Published: 2025-01-21T00:16:01.000Z
Chart AUD/USD Update: Extending gains
Technical Analyst
-
Consolidation at the .6200 level has given way to rebound and break above .6270 resistance see room for test of the .6300 level
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.6440 | * | 14 Nov low, 38.2% | S1 | 0.6250 | * | congestion | |
| R3 | 0.6400 | * | congestion | S2 | 0.6200 | * | congestion | |
| R2 | 0.6348/62 | * | Aug/Apr lows | S3 | 0.6170 | * | 2022 year low | |
| R1 | 0.6300 | * | congestion | S4 | 0.6130 | ** | 13 Jan YTD low |
Asterisk denotes strength of level
00:10 GMT - Consolidation at the .6200 level has given way to rebound and break above .6270 resistance see room for test of the .6300 level. Both the daily and weekly studies have turned up from oversold areas and suggest scope for break here to further retrace sharp losses from the September high. Clearance will open up room to the previous lows at .6348 and .6362 then the .6400 level. Meanwhile, support is raised to the .6250/.6200 area which is expected to underpin and sustain gains from the .6130 low.