Published: 2025-04-08T07:44:34.000Z
Chart EUR/AUD Update: Lower in consolidation from 1.8418, fresh year high
Technical Analyst
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Settled back from fresh year high at 1.8418 to consolidate below the 1.8200 congestion
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.8570 | * | 26 Mar 2020 high | S1 | 1.8000 | * | figure | |
| R3 | 1.8500 | * | 76.4% 2020/2022 fall | S2 | 1.7880 | ** | 7 Apr low | |
| R2 | 1.8418 | ** | 7 Mar YTD high | S3 | 1.7800 | * | intraday congestion | |
| R1 | 1.8200 | * | congestion | S4 | 1.7525 | * | 3 Apr high |
Asterisk denotes strength of level
07:35 GMT - Settled back from fresh year high at 1.8418 to consolidate below the 1.8200 congestion as prices unwind the overbought intraday studies. Pullback see support starting at the 1.8000 figure and this extend to the 1.7880 low of Monday. Daily and weekly studies are overbought and suggest scope for break here to confirm a top pattern at the 1.8418 high and see deeper correction of the strong run-up from the 1.7050, late-March low. Meanwhile, resistance is lowered to the 1.8200 congestion and this should sustain pullback from the 1.8418 high.