Published: 2025-05-15T13:54:22.000Z
Chart AUD/USD Update: Under pressure
Senior Technical Strategist
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Cautious trade is giving way to a drift lower
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.6688 | ** | 7 Nov (m) high | S1 | 0.6400 | * | break level | |
| R3 | 0.6600 | * | congestion | S2 | 0.6360 | break level | ||
| R2 | 0.6550 | ** | 61.8% ret of Sep-Apr fall | S3 | 0.6300 | ** | congestion | |
| R1 | 0.6500 | * | congestion | S4 | 0.6200 | ** | congestion |
Asterisk denotes strength of level
14:35 BST - Cautious trade is giving way to a drift lower, as intraday studies turn down, with prices currently pressuring congestion support at 0.6400. A break will open up 0.6360. But already oversold intraday studies are expected to limit any initial tests in consolidation, before deteriorating daily readings and unwinding overbought weekly stochastics prompt a break. A close below 0.6360 will add weight to sentiment and put focus on congestion around 0.6300. Meanwhile, resistance remains strong at congestion around 0.6500 and should cap any immediate tests higher.