Published: 2025-01-17T00:14:00.000Z
Chart AUD/USD Update: Consolidating below .6250, scope for break later
Technical Analyst
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Range-bound in consolidation after bounce attempt was checked beneath the .6250 level
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.6400 | * | congestion | S1 | 0.6200 | * | congestion | |
| R3 | 0.6348/62 | * | Aug/Apr lows | S2 | 0.6170 | * | 2022 year low | |
| R2 | 0.6300 | * | congestion | S3 | 0.6130 | ** | 13 Jan YTD low | |
| R1 | 0.6270 | ** | 2023 year low | S4 | 0.6100 | * | 76.4% 2020/2021 rally |
Asterisk denotes strength of level
00:10 GMT - Range-bound in consolidation after bounce attempt was checked beneath the .6250 level. Daily studies remains positive following bounce from oversold areas and suggest consolidation to give way to stronger recovery towards strong resistance at the .6270/.6300 area. Break here, if seen, will see stronger gains to retrace sharp losses from the September high to the previous lows at the .6348/.6362 area. Meanwhile, support remains at the at .6200/.6170 area and this is expected to underpin and sustain gains from the .6130 low.