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Published: 2025-09-01T06:53:14.000Z

Chart EUR/AUD Update: Consolidating test of May trendline

byPakLai Ng

Technical Analyst
-

Turned up from test of the May trendline from the 1.7250 low as prices consolidate losses from the 1.8155 high

 LevelsImpComment  LevelsImpComment
R41.8200 congestion S11.7810/00*12 Aug low, congestion
R31.8155**21 Aug high S21.7700**congestion, 50%
R21.8100*Jul high, congestion S31.7630*18 Jun low
R11.8000*congestion S41.7600*congestion, 61.8%

Asterisk denotes strength of level

06:50 GMT - Turned up from test of the May trendline from the 1.7250 low as prices consolidate losses from the 1.8155 high and unwind oversold intraday and daily studies. Negative weekly studies suggest bounce here giving way to fresh selling pressure later and see room for deeper pullback to retrace the May/August rally. Break of support at the 1.7810/00 area will see room for extension to retest strong support at 1.7700, July low and 50% Fibonacci level. Meanwhile, resistance is at the 1.8000 level which is expected to cap and sustain losses from the 1.8100/1.8155, July and 21 August highs.

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Topics
EUR/AUD-TA
DM-Technical
Technical Analysis

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