Published: 2025-07-22T06:22:41.000Z
Chart EUR/AUD Update: Extending bounce from 1.7720 channel support
Technical Analyst
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Extending bounce from the 1.7720 low of last week as prices extend gains within the rising channel from the May low
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.8400 | * | congestion | S1 | 1.7800 | * | congestion | |
| R3 | 1.8245 | * | 76.4 Apr/May fall | S2 | 1.7720/00 | ** | 11 Jul low, congestion | |
| R2 | 1.8100 | ** | 7 Jul high | S3 | 1.7630 | * | 18 Jun low | |
| R1 | 1.8000 | * | Jun high | S4 | 1.7460 | * | 10 Jun low |
Asterisk denotes strength of level
06:15 GMT - Extending bounce from the 1.7720 low of last week as prices extend gains within the rising channel from the May low. Break above 1.7900 see room to retest the 1.8000 and 1.8100, June and 7 July highs. However, this latter is expected to cap and give way to renewed selling pressure later. Meanwhile, support remains at the 1.7800 congestion and below this will expose strong support at the 1.7720/00 area to retest. Break of the latter will open up deeper pullback to retrace the choppy May/July gains to the 1.7630 then 1.7460/00, 10 June low and congestion.