Chart EUR/AUD Update: Extending losses, room to 1.6360 support
Consolidation above the 1.6425/20 low and 50% Fibonacci level has given way to renewed selling pressure to reach fresh year low at the 1.6400 level
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.6900 | * | congestion | S1 | 1.6400 | figure | ||
| R3 | 1.6800 | * | congestion | S2 | 1.6360 | ** | 20 Feb 2025 year low | |
| R2 | 1.6700/50 | * | congestion | S3 | 1.6300 | * | congestion | |
| R1 | 1.6620 | * | 12 Feb low | S4 | 1.6200 | * | congestion |
Asterisk denotes strength of level
06:30 GMT - Consolidation above the 1.6425/20 low and 50% Fibonacci level has given way to renewed selling pressure to reach fresh year low at the 1.6400 level. Below this will see room to fully retrace all of the gains of last year to retest 1.6360 low of February 2025. However, the deep oversold daily and weekly studies caution stronger corrective bounce. Resistance is at the 1.6600/20 area and lift over this needed to clear the way for stronger gains to retrace losses from the 1.8160, October high. Higher will see room to the 1.6700/50 area and 1.6800/1.6900 congestion.