Published: 2026-05-20T00:24:30.000Z
Chart AUD/USD Update: Still room for lower
1
No follow-through on break of the .7110/00 support but pressure remains firmly on the downside
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.7400 | ** | congestion | S1 | 0.7100 | ** | congestion | |
| R3 | 0.7300 | * | congestion | S2 | 0.7055 | * | 50% Mar/May rally | |
| R2 | 0.7278 | ** | 6 May YTD high | S3 | 0.7000 | ** | congestion, 61.8% | |
| R1 | 0.7200 | * | congestion | S4 | 0.6962 | * | 1 Apr high |
Asterisk denotes strength of level
00:15 GMT - No follow-through on break of the .7110/00 support but pressure remains firmly on the downside. Consolidation at the .7100 level is is expected to give way to fresh selling pressure to open up room for deeper pullback to retrace rally from the .6833 March low. Lower will see room to support at the .7055 and .7000 Fibonacci levels. Meanwhile, resistance at the .7185/.7200 March high and congestion area is expected to cap. Would need to regain this to fade the downside pressure and return focus the .7278 high and see scope to extend gains from the April 2025 year low.