Published: 2025-05-28T07:17:29.000Z
Chart EUR/AUD Update: Extend corrective bounce from 1.7250 low
Technical Analyst
-
Little change, as prices extend consolidation below the 1.7635 high of last week
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.7900 | * | 50% Apr/May fall | S1 | 1.7500 | * | congestion | |
| R3 | 1.7800 | * | congestion | S2 | 1.7400 | * | congestion | |
| R2 | 1.7700/45 | ** | 10 Apr low, 38.2% | S3 | 1.7260/50 | * | 50%, 14 May low | |
| R1 | 1.7635 | * | 22 May high | S4 | 1.7185 | ** | Aug 2024 year high |
Asterisk denotes strength of level
07:10 GMT - Little change, as prices extend consolidation below the 1.7635 high of last week. Positive daily studies keeps pressure on the upside and see scope to extend bounce from 1.7250 low to retrace losses from the 1.8555, 9 April YTD high. Higher will see room to strong resistance at the 1.7700/1.7745 level and 38.2% Fibonacci level. Meanwhile, support is raised to the 1.7500/1.7400 area which now underpin. Would take break here to return focus to the downside for retest of the 1.7250 low and see deeper pullback to retrace November/April rally.