Published: 2024-11-29T14:50:50.000Z
Chart AUD/USD Update: Resistance at 0.6550
Senior Technical Strategist
2
Still little change
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.6650 | break level | S1 | 0.6440 | * | 14 Nov (w) low | ||
| R3 | 0.6600 | * | congestion | S2 | 0.6430 | * | 76.4% ret of 2023-2024 rally | |
| R2 | 0.6550 | break level | S3 | 0.6400 | minor congestion | |||
| R1 | 0.6500 | * | congestion | S4 | 0.6348 | ** | 5 Aug YTD low |
Asterisk denotes strength of level
14:40 GMT - Still little change, as the anticipated above 0.6500 gives way to fresh consolidation around here. Daily readings continue to rise, suggesting room for a fresh test above here. But a tick lower in broader weekly charts is expected to limit scope in renewed selling interest towards 0.6550. A close above here, if seen, would turn sentiment positive and extend gains towards congestion around 0.6600. Meanwhile, strong support remains at the 0.6440 weekly low of 14 November and the 0.6430 Fibonacci retracement. A close beneath here will turn sentiment negative and extend September losses towards the 0.6348 current year low of 5 August.