Published: 2025-05-09T06:54:41.000Z
Chart EUR/AUD Update: Higher in consolidation from 1.7415/1.7365 support
Technical Analyst
1
Higher in consolidation following bounce from the 1.7415/1.7365 support
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.8000 | * | congestion | S1 | 1.7500 | * | congestion | |
| R3 | 1.7885 | * | 29 Apr high | S2 | 1.7365 | * | 1 Apr high | |
| R2 | 1.7700 | ** | 10 Apr low | S3 | 1.7200 | * | congestion | |
| R1 | 1.7600 | * | congestion | S4 | 1.7185 | ** | Aug 2024 year high |
Asterisk denotes strength of level
06:50 GMT - Higher in consolidation following bounce from the 1.7415/1.7365 support as prices unwind the oversold daily studies. Bounce see resistance starting at 1.7600 congestion then the 1.7700 previous range low which is expected to cap corrective bounce. Break here needed to open up room for stronger gains to 1.7800/85 resistance. Corrective bounce is expected to give way to renewed selling pressure later, break of the 1.7415/1.7365 support will see deeper pullback to retrace the November/April rally and see room to the 1.7200/1.7185, congestion and 2024 year high.