Published: 2025-10-16T13:44:52.000Z
Chart AUD/USD Update: Range trade - background under pressure
2
Little change, as prices extend consolidation around congestion support at 0.6500
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.6688 | ** | 7 Nov (m) high | S1 | 0.6500 | * | congestion | |
| R3 | 0.6630 | * | recent highs | S2 | 0.6440 | 14 Oct low | ||
| R2 | 0.6600 | ** | congestion | S3 | 0.6400 | ** | congestion | |
| R1 | 0.6550 | * | congestion | S4 | 0.6350 | * | congestion |
Asterisk denotes strength of level
14:35 BST - Little change, as prices extend consolidation around congestion support at 0.6500. Rising daily stochastics are flattening and the daily Tension Indicator continues to track lower, highlighting room for fresh losses in the coming sessions. A break below 0.6500 will open up the 0.6440 low of 14 October. Negative weekly charts suggest potential for continuation down to stronger support at congestion around 0.6400, where by-then oversold daily stochastics could prompt consolidation. Meanwhile, congestion resistance at 0.6550 should cap any immediate tests higher.