Published: 2024-12-10T07:05:14.000Z
Chart EUR/AUD Update: Consolidating below 1.6350 high, scope for break later
Technical Analyst
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Rebound at the 1.6350 support to regain the 1.6500 level sets up scope for retest of the 1.6560 high of last week
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.6700 | * | congestion | S1 | 1.6400 | * | congestion | |
| R3 | 1.6630 | * | Sep high | S2 | 1.6350 | * | 9 Dec low | |
| R2 | 1.6600 | * | Oct high | S3 | 1.6300 | * | congestion | |
| R1 | 1.6560 | ** | 6 Dec high | S4 | 1.6255 | * | Aug low |
Asterisk denotes strength of level
07:00 GMT - Rebound at the 1.6350 support to regain the 1.6500 level sets up scope for retest of the 1.6560 high of last week. Daily studies are mixed and suggest further consolidation here likely though scope is seen for break later to further extend gains from the 1.5963, November YTD low. Break will open up extension to strong resistance at the 1.6600 and 1.6630, October/September highs. Meanwhile, support at the 1.6350 low should now underpin. Failure here will open up room for deeper corrective pullback to the 1.6300/1.6255 congestion and August low.