Published: 2026-01-16T07:33:53.000Z
Chart EUR/AUD Update: Under pressure, room to 1.7260/50 support
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Consolidation around the 1.7400 level has given way to fresh selling pressure to open up the 1.7290 low to retest
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.7700 | * | congestion | S1 | 1.7290 | * | 7 Jan low | |
| R3 | 1.7600 | ** | congestion | S2 | 1.7260/50 | ** | 50% 2024/2025 rally, May low | |
| R2 | 1.7570 | * | Oct, Nov lows | S3 | 1.7200 | * | congestion | |
| R1 | 1.7480 | * | Dec low | S4 | 1.7110 | * | Apr low |
Asterisk denotes strength of level
07:40 GMT - Consolidation around the 1.7400 level has given way to fresh selling pressure to open up the 1.7290 low to retest. Below this will see room for extension to strong support at 1.7260/50, 50% Fibonacci level and May low. Break here will see room for deeper pullback to retrace the 2024/2025 rally. Lower will see extension to 1.7200 level and the 1.7100/1.7050, congestion and April low. Meanwhile, resistance at the 1.7400/80 congestion and December low now expected to cap and extend losses from the 1.8160, August/October highs.