Published: 2025-04-09T00:11:21.000Z
Chart AUD/USD Update: Pressure remains on the downside
Technical Analyst
6
Range-bound in consolidation but pressure remains firmly on the downside
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.6200 | ** | congestion | S1 | 0.5930 | ** | 7 Apr YTD low | |
| R3 | 0.6131 | * | Jan low | S2 | 0.5870 | * | 26 Mar 2020 low | |
| R2 | 0.6087 | * | Feb low | S3 | 0.5700 | * | congestion | |
| R1 | 0.6000 | * | figure | S4 | 0.5510 | ** | 19 Mar 2020 multi-year low |
Asterisk denotes strength of level
00:10 GMT - Range-bound in consolidation but pressure remains firmly on the downside after bounce attempt failed to get a foothold above the .6000 level. Negative daily and weekly studies suggest the downside vulnerable and break of the .5930 low will see room for extension to support at rhe .5870/00 and .5700 congestion though potential is seen for retest of the .5510, March 2020 multi-year low. Meanwhile, resistance is lowered to the .6000 figure. Above here will open up room to retest the February and January lows now turned resistance at .6087/.6131 which is expected to cap.