Published: 2025-03-06T07:57:11.000Z
Chart AUD/NZD Update: Leaning lower in consolidation
Technical Analyst
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Consolidation within the 1.1100/1.1050 area see pressure building on the downside
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1200 | * | congestion | S1 | 1.1050 | * | congestion | |
| R3 | 1.1180 | ** | Nov 2024 year high | S2 | 1.1000 | ** | 30 Jan YTD low | |
| R2 | 1.1150 | * | congestion | S3 | 1.0950 | * | congestion | |
| R1 | 1.1100 | * | congestion | S4 | 1.0933 | ** | Dec low |
Asterisk denotes strength of level
07:50 GMT - Consolidation within the 1.1100/1.1050 area see pressure building on the downside as negative daily studies weigh. Break of the 1.1050 support with extend rejection from the 1.1150/1.1180 resistance and see room for retest of 1.1000 support and January YTD low. Below the latter will turn focus to the strong support at the 1.0933, December low. Meanwhile, resistance at the 1.1100 congestion is expected to cap. Regaining this is needed to ease the downside pressure and sets up scope for retest of the 1.1150 and 1.1180 highs.