Published: 2025-08-06T13:59:32.000Z
Chart AUD/USD Update: Limited gains
Senior Technical Strategist
1
Cautious trade is giving way to a test higher
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.6625 | 24 Jul YTD high | S1 | 0.6400 | * | break level | ||
| R3 | 0.6600 | ** | congestion | S2 | 0.6360 | ** | break level | |
| R2 | 0.6550 | * | congestion | S3 | 0.6335 | ** | 38.2% ret of Apr-Jul rally | |
| R1 | 0.6500 | * | congestion | S4 | 0.6300 | * | congestion |
Asterisk denotes strength of level
14:50 BST - Cautious trade is giving way to a test higher, with prices currently pressuring congestion resistance at 0.6500. Oversold daily stochastics are unwinding, suggesting room for a test above here. But the negative daily Tension Indicator and bearish weekly charts should limit scope in renewed selling interest towards congestion around 0.6550. Following corrective trade, fresh losses are looked for. Support is at 0.6400. But a close below 0.6360 is needed to turn sentiment negative and confirm a near-term top in place around 0.6600, as July losses then extend initially towards the 0.6335 Fibonacci retracement.