Published: 2026-05-29T08:10:12.000Z
Chart AUD/USD Update: Range trade - background studies under pressure
1
Consolidation around congestion support at 0.7100 has given way to a bounce
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.7500 | ** | historic congestion | S1 | 0.7100 | congestion | ||
| R3 | 0.7400 | ** | historic congestion | S2 | 0.7050 | * | congestion | |
| R2 | 0.7280~ | ** | June 2022 high | S3 | 0.7000 | * | congestion | |
| R1 | 0.7200 | ** | break level, 61.8% ret | S4 | 0.6900 | * | congestion |
Asterisk denotes strength of level
09:05 BST - Consolidation around congestion support at 0.7100 has given way to a bounce, with prices currently trading around 0.7155. The flat daily Tension Indicator is edging higher, suggesting room for further gains. But deteriorating daily stochastics and bearish weekly charts should limit scope in renewed selling interest/consolidation beneath strong resistance at 0.7200. Following cautious trade, fresh losses are looked for. A later close below 0.7100 will add weight to sentiment and extend early-May losses initially towards further congestion around 0.7050.