Published: 2025-09-17T06:38:00.000Z
Chart AUD/NZD Update: Consolidating test of 1.1180, 2024 year high
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No follow-through on break above the November 2024 year high at 1.1180
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1370 | * | 10 Oct 2022 high | S1 | 1.1150 | * | congestion | |
| R3 | 1.1300 | * | figure | S2 | 1.1100 | * | congestion | |
| R2 | 1.1250 | * | congestion, 76.4% | S3 | 1.1085 | * | 9 Sep low | |
| R1 | 1.1180 | ** | Nov 2024 year high | S4 | 1.1050 | * | congestion |
Asterisk denotes strength of level
06:30 GMT - No follow-through on break above the November 2024 year high at 1.1180 as prices consolidate strong gains from the August low and unwind overbought daily studies. However, pressure remains on the upside and close above the 1.1180 resistance will see room for extension to the 1.1250, channel resistance from the December 2022 low and 76.4% Fibonacci level. Would expect reaction at the latter as the daily and weekly studies push deep into overbought areas. Meanwhile support starts at 1.1150 then the 1.1100/1.1085 area which is expected to underpin and limit corrective pullback.