Published: 2025-07-07T07:01:17.000Z
Chart EUR/AUD Update: Extending gains
Technical Analyst
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Consolidation below the 1.8000 level has given way to break to extend gains from the May low to reach the 1.8100 level
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.8555 | ** | 9 Apr YTD high | S1 | 1.7900 | * | congestion | |
| R3 | 1.8400 | * | congestion | S2 | 1.7805 | * | 23 Jun low | |
| R2 | 1.8245 | * | 76.4% Apr/May fall | S3 | 1.7700 | * | congestion | |
| R1 | 1.8100 | * | congestion | S4 | 1.7630 | ** | 18 Jun low |
Asterisk denotes strength of level
06:50 GMT - Consolidation below the 1.8000 level has given way to break to extend gains from the May low to reach the 1.8100 level. Daily studies remains positive and clearance here will see room for further gains to retrace the April/May losses to 1.8245, 76.4% Fibonacci level. Beyond this, but out of reach for now, will return focus to the 1.8555, 9 April current year high. Meanwhile, support is raised to the 1.7900/1.7870 congestion which is expected to underpin. Only below the latter will turn focus lower and see deeper corrective pullback to 1.7805/1.7700 congestion.