Published: 2025-03-18T06:15:52.000Z
Chart AUD/NZD Update: Focus shift to 1.0933 support
Technical Analyst
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Sharply lower through the 1.1000 support to reach fresh year low at 1.0950
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1150 | * | Jul 2024 high | S1 | 1.0950 | * | congestion, 38.2% | |
| R3 | 1.1100 | * | Jan high, congestion | S2 | 1.0933 | ** | Dec low | |
| R2 | 1.1050 | * | congestion | S3 | 1.0900 | * | congestion | |
| R1 | 1.1000 | * | Jan low, congestion | S4 | 1.0875 | * | 50% 2024 rally |
Asterisk denotes strength of level
06:00 GMT - Sharply lower through the 1.1000 support to reach fresh year low at 1.0950. Daily and weekly studies continues to track lower and break will see room to retest the December low of 1.0933 where reaction can be expected. Break here will confirm a double top at the 1.1180/70, November 2024 and February year highs and see room to the 1.0900 congestionand 1.0875, 50% Fibonacci level. Meanwhile, resistance is lowered to the 1.1000, January low and congestion, which is expected to cap and sustain losses from the 1.1170 high.