Published: 2025-07-29T06:27:47.000Z
Chart EUR/AUD Update: Under pressure, 1.7720/00 support at risk
Technical Analyst
1
Extending break of support at the 1.7800 level and bullish channel from the May low to open up the 1.7720/00 support to retest
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.8245 | * | 76.% Apr/May fall | S1 | 1.7720/00 | ** | 11 Jul low, congestion | |
| R3 | 1.8100 | ** | 7 Jul high | S2 | 1.7630 | * | 18 Jun low | |
| R2 | 1.8000 | * | congestion | S3 | 1.7460 | * | 10 Jun low | |
| R1 | 1.7900 | * | congestion | S4 | 1.7400 | * | congestion |
Asterisk denotes strength of level
06:30 GMT - Extending break of support at the 1.7800 level and bullish channel from the May low to open up the 1.7720/00 support to retest. The daily and weekly studies have turned lower to unwind overbought readings and suggest break here to further retrace the choppy May/July rally and see room to the 1.7630/00 support. Lower still, will open up extension to 1.7460/00, 10 June low and congestion. Meanwhile, resistance at the 1.7900/1.8000 congestion is expected to cap and sustain pullback from the 1.8100 high.