Published: 2024-12-11T00:12:46.000Z
Chart AUD/USD Update: Within reach of .6362/.6348 lows
Technical Analyst
2
Under pressure after bounce attempt was checked at the .6440/50 resistance
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.6550 | ** | 25 Nov high | S1 | 0.6362/48 | ** | Apr, 5 Aug YTD low | |
| R3 | 0.6528 | * | 29 Nov high | S2 | 0.6300 | * | congestion | |
| R2 | 0.6500 | * | congestion | S3 | 0.6270 | ** | 26 Oct 2023 year low | |
| R1 | 0.6440/50 | * | 14 Nov low, congestion | S4 | 0.6170 | ** | 13 Oct 2022 year low |
Asterisk denotes strength of level
00:10 GMT - Under pressure after bounce attempt was checked at the .6440/50 resistance. Break of the .6400/.6372 area and trendline from the 2022 year low opens up strong support at .6362 and .6348, the April and 5 Aug YTD lows to retest. Would expect reaction here to unwind oversold daily and weekly studies. Break here, if seen, will open up further losses to the .6270, October 2023 year low. Meanwhile, resistance at the .6440/50 area expected to cap. Would take break here to open up stronger bounce to the .6500 level then the strong resistance at the .6528/.6550 area.