Published: 2025-04-09T07:04:35.000Z
Chart EUR/AUD Update: Extending gains, but stretched
Technical Analyst
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Consolidation below the 1.8418 high gave way break to extend the strong rally from the 1.7050, late-March low
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.8900 | * | congestion | S1 | 1.8355 | intraday low | ||
| R3 | 1.8825 | * | 20 Mar 2020 high | S2 | 1.8200 | * | congestion | |
| R2 | 1.8750 | * | 23 Mar 2020 high | S3 | 1.8000 | * | congestion | |
| R1 | 1.8570 | * | 26 Mar 2020 high | S4 | 1.7880 | * | 7 Apr low |
Asterisk denotes strength of level
07:00 GMT - Consolidation below the 1.8418 high gave way break to extend the strong rally from the 1.7050, late-March low. Break above the 1.8500, 76.4% Fibonacci level, opens up room to 1.8570. Higher still will see room to 1.8750/1.8825 area and the 1.8900 congestion. However, the overbought daily and weekly studies caution corrective pullback with support now rasied to the 1.8200/1.8000 congestion area. Would take break here to open up room for deeper correction of the rally from 1.7050 low.