Published: 2025-09-05T13:46:11.000Z
Chart AUD/USD Update: Smart reversal higher
Senior Technical Strategist
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Cautious trade has given way to a sharp break higher
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.6700 | ** | 76.4% ret of Sep-Apr fall | S1 | 0.6550 | * | congestion | |
| R3 | 0.6688 | ** | 7 Nov (m) high | S2 | 0.6500 | * | congestion | |
| R2 | 0.6625 | ** | 24 Jul YTD high | S3 | 0.6450 | congestion | ||
| R1 | 0.6600 | ** | congestion | S4 | 0.6400 | * | break level |
Asterisk denotes strength of level
14:35 BST - Cautious trade has given way to a sharp break higher, with prices currently trading around 0.6580. Intraday studies are rising and daily readings are turning higher, highlighting room for a test above here. However, already overbought daily stochastics are expected to limit any immediate tests in consolidation. Broader weekly charts are improving, but a close above here is needed to turn sentiment outright positive and confirm continuation of April gains. Meanwhile, support is raised to 0.6550 and extends to 0.6500. This range should underpin any immediate setbacks.