Published: 2025-07-29T13:52:44.000Z
Chart AUD/USD Update: Room for lower
Senior Technical Strategist
3
Cautious trade has given way to the anticipated test of congestion support at 0.6500
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.6700 | ** | 76.4% ret of Sep-Apr fall | S1 | 0.6500 | * | congestion | |
| R3 | 0.6688 | ** | 7 Nov (m) high | S2 | 0.6450 | congestion | ||
| R2 | 0.6625 | 24 Jul YTD high | S3 | 0.6400 | * | break level | ||
| R1 | 0.6600 | ** | congestion | S4 | 0.6360 | ** | break level |
Asterisk denotes strength of level
14:45 BST - Cautious trade has given way to the anticipated test of congestion support at 0.6500. Daily readings continue to track lower and broader weekly charts are under pressure, highlighting room for further losses in the coming sessions. A close beneath here will open up further congestion around 0.6450, with room for continuation down to 0.6400. Meanwhile, resistance remains at congestion around 0.6600. A close above here is needed to turn sentiment positive and extend April gains to fresh 2025 year highs towards strong resistance at the 0.6688 monthly high of 7 November and the 0.6700 Fibonacci retracement.