Published: 2025-01-13T00:29:08.000Z
Chart AUD/USD Update: Room for lower to .6100 next
Technical Analyst
1
Saw break of the .6170 support on Friday to reach fresh low at .6140
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.6300 | * | congestion | S1 | 0.6140 | * | 10 Jan low | |
| R3 | 0.6270 | ** | 2023 year low | S2 | 0.6100 | ** | 76.4% 2020/2021 rally | |
| R2 | 0.6200 | * | congestion | S3 | 0.6000 | * | figure | |
| R1 | 0.6170/85 | ** | 2022/2024 year lows | S4 | 0.5980 | * | Apr 2020 low |
Asterisk denotes strength of level
00:20 GMT - Saw break of the .6170 support on Friday to reach fresh low at .6140. Consolidation here expected to give way to fresh selling pressure later and lower will further extend the broad bearish trend from the 2021 high and see room to the .6100, 76.4% Fibonacci level. Lower still, but out of reach for now will open up room to the .6000/.5980 figure and April 2020 low. Meanwhile, resistance is lowered to the .6170/.6185 area, the 2022 and 2024 year lows. Lift over this will open up room for stronger bounce to the .6200/.6270 area.