Published: 2025-07-28T07:23:23.000Z
Chart EUR/AUD Update: Stays supported within the May channel
Technical Analyst
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Stays supported within the rising channel from the May low to pressure the 1.7900 level
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.8245 | * | 76.% Apr/May fall | S1 | 1.7800 | congestion | ||
| R3 | 1.8100 | ** | 7 Jul high | S2 | 1.7720/00 | ** | 11 Jul low, congestion | |
| R2 | 1.8000 | * | congestion | S3 | 1.7630 | * | 18 Jun low | |
| R1 | 1.7900 | * | congestion | S4 | 1.7460 | * | 10 Jun low |
Asterisk denotes strength of level
07:15 GMT - Stays supported within the rising channel from the May low to pressure the 1.7900 level. Daily studies have turned mixed and suggest break here likely to meet with selling pressure below resistance at the 1.8000 congestion. While the latter caps, scope is seen for pullback to retest 1.7800 level then the strong support at 1.7720/00 area. Below this will further retrace the choppy May/July rally and see room to 1.7630 support. Lower still, will open up extension to 1.7460/00, 10 June low and congestion.