Chart AUD/USD Update: Reached 0.6600/30 - daily studies rising
The anticipated test of resistance at congestion around 0.6600 and the 0.6630 break level is giving way to consolidation
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.6700 | ** | 76.4% ret of 2024-2025 fall | S1 | 0.6550 | * | congestion | |
| R3 | 0.6688 | * | 7 Nov 2024 (m) high | S2 | 0.6500 | * | congestion | |
| R2 | 0.6630 | * | break level | S3 | 0.6440 | * | 14 Oct (w) low | |
| R1 | 0.6600 | ** | congestion | S4 | 0.6400 | ** | congestion |
Asterisk denotes strength of level
14:30 GMT - The anticipated test of resistance at congestion around 0.6600 and the 0.6630 break level is giving way to consolidation, as positive intraday studies flatten. Daily studies continue to rise, highlighting room for further gains in the coming sessions. But a close above 0.6630 is needed to turn sentiment positive and extend mid-October gains towards critical resistance at the 0.6688 monthly high of November 2024 and the 0.6700 Fibonacci retracement. Meanwhile, support remains at congestion around 0.6550. A close beneath here would turn sentiment neutral and prompt consolidation above further congestion around 0.6500.