Published: 2025-03-18T07:19:36.000Z
Chart EUR/AUD Update: Consolidating sharp pullback, room for still lower
Technical Analyst
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Consolidating test of the 1.7100 level as prices unwind oversold intraday studies
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.7505 | * | 9 Apr 2020 high | S1 | 1.7065 | ** | Aug 2023 year high | |
| R3 | 1.7418 | ** | 11 Mar YTD high | S2 | 1.7000 | * | congestion | |
| R2 | 1.7270 | * | 7 Mar high | S3 | 1.6880 | * | 3 Mar high | |
| R1 | 1.7185/00 | ** | Aug 2024 year high, congestion | S4 | 1.6800 | ** | congestion, Dec high |
Asterisk denotes strength of level
07:10 GMT - Consolidating test of the 1.7100 level as prices unwind oversold intraday studies following sharp pullback from the 1.7418, 11 March YTD high. However, weak daily studies suggest this giving way to fresh selling pressure later to correct the sharp February/March rally. Nearby see strong support at 1.7065, 2023 year high. Below this wll open up room to the 1.7000 congestion and 1.6880 support. Meanwhile, resistance is lowered to the 1.7185/1.7200, 2024 year high and congestion area, which is expected to cap and sustain pullback from the 1.7418 high.