Chart AUD/USD Update: Still room for lower
Fresh losses has reach the .6800 level but pressure remains firmly on the downside and see scope for break here to extend the broader losses from the May current year high
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.7000 | * | congestion | S1 | 0.6800 | * | figure | |
| R3 | 0.6950 | * | congestion | S2 | 0.6755 | * | 38.2% 2025/2026 rally | |
| R2 | 0.6900 | ** | congestion, Oct low | S3 | 0.6700 | ** | congestion | |
| R1 | 0.6865 | ** | Jun low | S4 | 0.6663 | ** | 5 Jan YTD low |
Asterisk denotes strength of level
00:30 GMT - Fresh losses has reach the .6800 level but pressure remains firmly on the downside and see scope for break here to extend the broader losses from the May current year high. Negative daily and weekly studies suggest room for break to open up room to the 38.2% Fibonacci retracement at .6755 then the .6700 congestion. Meanwhile resistance is lowered to the .6865/.6900 June and October lows. This area is expected to cap corrective bounce. Above here needed to ease the downside pressure and open up room for stronger bounce towards .6950/.7000 resistance.