Published: 2024-12-12T07:15:37.000Z
Chart EUR/AUD Update: Extending rejection from 1.6575 high
Technical Analyst
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Consolidation below the 1.6600 level has given way to fresh selling pressure following rejection from the 1.6575 high
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.6630 | * | Sep high | S1 | 1.6350 | * | 9 Dec low | |
| R3 | 1.6600 | * | Oct high | S2 | 1.6300 | * | congestion | |
| R2 | 1.6575 | * | 11 Dec high | S3 | 1.6255 | * | Aug low | |
| R1 | 1.6500 | * | congestion | S4 | 1.6200 | * | congestion |
Asterisk denotes strength of level
07:10 GMT - Consolidation below the 1.6600 level has given way to fresh selling pressure following rejection from the 1.6575 high through the 1.6400 congestion expose the 1.6350 support to retest. Daily studies have turned lower from overbought areas and see risk for break here open up deeper pullback to retrace the November rally from the 1.5963 low. Lower will see room to the 1.6300/1.6255 area then the 1.6200 level. Meanwhile, resistance is lowered to the 1.6500 level which is expected to cap and sustain losses from the 1.6575 high.