Chart EUR/AUD Update: Consolidating, room for higher later
Little change, as prices extend consolidation above the 1.6200 level following bounce from the 1.6110, 13 May YTD low
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.6600 | * | congestion | S1 | 1.6200 | * | congestion | |
| R3 | 1.6500 | ** | congestion, 8 Apr low | S2 | 1.6110 | ** | 13 May YTD low | |
| R2 | 1.6400/25 | * | congestion, 5 Mar low | S3 | 1.6000 | ** | figure, congestion | |
| R1 | 1.6350 | * | congestion | S4 | 1.5960 | ** | 2024 year low |
Asterisk denotes strength of level
07:00 GMT - Little change, as prices extend consolidation above the 1.6200 level following bounce from the 1.6110, 13 May YTD low. Resistance is at the 1.6350 congestion and clearance here will see room for stronger gains to retrace losses from the 1.6845 high of 31 March. Clearance will see room to resistance at the 1.6400/25 area. Higher still, will see room for exension to the 1.6500/1.6600 congestion area. Meanwhile, support remains at the 1.6200 congestion which should underpin. Break here and the 1.6130/10 lows will open up room for extension to strong support at the 1.6000 figure and 1.5960 support.