Chart AUD/NZD Update: Edged up in consolidation from 1.1950 low
Edged up from the 1.1950 support as prices consolidate losses from the 1.2100 high and unwind oversold intraday studies
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.2150 | * | Mar high, congestion | S1 | 1.1980 | * | Jun low | |
| R3 | 1.2130 | ** | 3 Jul low | S2 | 1.1950 | * | congestion | |
| R2 | 1.2100 | * | congestion | S3 | 1.1915 | ** | 3 Aug low | |
| R1 | 1.2050 | * | congestion | S4 | 1.1900 | * | congestion |
Asterisk denotes strength of level
06:30 GMT - Edged up from the 1.1950 support as prices consolidate losses from the 1.2100 high and unwind oversold intraday studies. Negative daily studies suggest consolidation giving way to fresh selling pressure later to retest the 3 August low at 1.1915. While reaction at the latter can be expected, bearish price action from the 1.2285 May current year high highlight scope for break later to open up room for deeper pullback to retrace the 2025/2026 rally. Meanwhile resistance remains at the 1.2000/1.2050 congestion which is expected to cap and sustain losses from resistance at the 1.2100/30 highs.