Published: 2025-03-05T08:02:50.000Z
Chart EUR/AUD Update: Extending gains, but stretched
Technical Analyst
1
Extending steep run-up from the 20 February low at 1.6355 to reach fresh year high at the 1.7000 level
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.7200 | * | congestion | S1 | 1.6900 | * | congestion | |
| R3 | 1.7185 | ** | Aug 2024 year high | S2 | 1.6800/90 | * | Dec, Jan highs | |
| R2 | 1.7065 | * | Aug 2023 year high | S3 | 1.6700 | * | congestion | |
| R1 | 1.7000 | * | psychological | S4 | 1.6600 | * | congestion, Oct high |
Asterisk denotes strength of level
08:00 GMT - Extending steep run-up from the 20 February low at 1.6355 to reach fresh year high at the 1.7000 level. Break here will see room to target the August 2023 year high at 1.7065. Beyond this will turn focus to the August 2024 year high at 1.7185. Would expect reaction at these levels as the daily studies extend deep into overbought areas. Meanwhile, support is raised to the 1.6900 congestion then the 1.6800 high of last year which should underpin and sustain gains from the 20 February YTD low.