Published: 2025-03-07T07:09:16.000Z
Chart EUR/AUD Update: Retest 1.7185, 2024 year high
Technical Analyst
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Rally through the 1.7065 resistance and the 1.7100 level extending gains to retest 1.7185, August 2024 year high
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.7350 | * | 16 Apr 2020 high | S1 | 1.7065 | * | Aug 2023 year high | |
| R3 | 1.7320 | * | 21 Apr 2020 high | S2 | 1.7000 | * | 4 Mar high, congestion | |
| R2 | 1.7200 | * | congestion | S3 | 1.6900 | * | congestion | |
| R1 | 1.7185 | ** | Aug 2024 year high | S4 | 1.6800 | * | Dec high, congestion |
Asterisk denotes strength of level
07:00 GMT - Rally through the 1.7065 resistance and the 1.7100 level extending gains to retest 1.7185, August 2024 year high. Overbought daily studies suggest reaction here likely to consolidate strong run-up from the February YTD low at 1.6360. Break here, if seen, will open up room to the 1.7200 congestion then the 1.7320/50, 21 and 16 April 2020 highs. Higher still, will see scope to 1.7500congestion. Meanwhile, support is raised to the 1.7065/1.7000 area. Break here will open up room for deeper correction to the 1.6900/1.6800 congestion area.