Published: 2025-07-02T00:24:14.000Z
Chart AUD/USD Update: Still bullish, but stretched
Technical Analyst
-
Edged to fresh year high at .6590 but bullish momentum slows as intraday and daily studies extend into overbought areas
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.6700 | * | 76.4% Sep/Apr fall | S1 | 0.6550 | * | congestion | |
| R3 | 0.6688 | * | Nov 2024 high | S2 | 0.6500 | * | congestion | |
| R2 | 0.6650 | * | congestion | S3 | 0.6450 | * | congestion | |
| R1 | 0.6600 | * | congestion | S4 | 0.6400 | ** | congestion |
Asterisk denotes strength of level
00:15 GMT - Edged to fresh year high at .6590 but bullish momentum slows as intraday and daily studies extend into overbought areas. Break above the .6600 level will further extend gains from the April low to retrace losses from the September high. However, overbought readings and bearish divergence on daily studies caution corrective pullback. Meanwhile, support is at the .6550 previous high which should now underpin. Below this will ease the upside pressure and see room for deeper corrective pullback to support at the .6500/.6450 area.