Published: 2025-03-20T08:15:37.000Z
Chart EUR/AUD Update: Consolidating test of 1.7100, room for lower later
Technical Analyst
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Turned up in consolidation from test of the 1.7100 level as prices unwind oversold intraday studies
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.7600 | congestion | S1 | 1.7100 | congestion | |||
| R3 | 1.7505 | * | 9 Apr 2020 high | S2 | 1.7065 | ** | Aug 2023 year high | |
| R2 | 1.7418 | ** | 11 Mar YTD high | S3 | 1.7000 | * | congestion | |
| R1 | 1.7270/00 | * | 7 Mar high, congestion | S4 | 1.6880 | * | 3 Mar high |
Asterisk denotes strength of level
08:10 GMT - Turned up in consolidation from test of the 1.7100 level as prices unwind oversold intraday studies. Above the 1.7200 level see room for stronger bounce to the 1.7270/1.7300 congestion area which is expected to cap. Lower high sought to pressure the downside later and clear break of the 1.7100 level and 1.7065 support will see deeper pullback to retrace sharp rally from the 1.6360, February YTD low. Lower will see room to the 1.7000 congestion then the 1.6880 support. Meanwhile, break above the 1.7270/1.7300 resistance will expose 1.7418 high to retest.