Published: 2026-06-04T07:22:11.000Z
Chart AUD/NZD Update: Extend corrective gains
2
Bounce from the 1.1980 low has seen corrective gains above 1.2100 to reach 1.2165 high
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.2345 | * | 61.8% 2011/2020 fall | S1 | 1.2100 | * | congestion | |
| R3 | 1.2285 | ** | 26 May YTD high | S2 | 1.2050 | congestion | ||
| R2 | 1.2200 | * | 8 Apr high, congestion | S3 | 1.1980 | ** | 1 Jun high | |
| R1 | 1.2165 | * | 3 Jun high | S4 | 1.1930 | ** | 27 Mar low |
Asterisk denotes strength of level
07:10 GMT - Bounce from the 1.1980 low has seen corrective gains above 1.2100 to reach 1.2165 high. Higher will see room to resistance at the 1.2200 congestion and 8 April high which is expected to cap and give way to renewed selling pressure later. Meanwhile, support is raised to the 1.2100 congestion. Would take break here to return focus to the downside foe retest of 1.2000 level and 1.1980 low. Below this will see room for deeper pullback to retrace strong gains from the April 2025 year low to support at 1.1930/00, late-March low and congestion area.