Published: 2025-12-16T07:58:44.000Z
Chart EUR/AUD Update: Extending corrective bounce
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Break above 1.7700 level further retracing losses from the 1.8160 Ocotober high to reach 1.7740, 50% Fibonacci level
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.7978 | ** | 25 Nov high | S1 | 1.7600 | * | congestion | |
| R3 | 1.7900 | * | 7 Nov high, congestion | S2 | 1.7480 | ** | 9 Dec low | |
| R2 | 1.7800/20 | * | congestion, 61.8% | S3 | 1.7460 | * | Jun low | |
| R1 | 1.7740 | * | 50% Oct/Dec fall | S4 | 1.7400 | * | congestion |
Asterisk denotes strength of level
07:50 GMT - Break above 1.7700 level further retracing losses from the 1.8160 Ocotober high to reach 1.7740, 50% Fibonacci level. Higher still, if seen, will open up room to the 1.7800/20 resistance. However, gains are seen corrective of the October/December losses and expected to give way to renewed selling pressure later. Meanwhile, support is raised to the 1.7600 congestion then the 1.7480 low. Break here and the 1.7460 support will extend the broader losses from the 1.8160 August/October double top and open up room for extension to the 1.7400 congestion.