Published: 2025-06-02T07:29:26.000Z
Chart EUR/AUD Update: Up to tag 1.7700 resistance
Technical Analyst
1
Lower in consolidation following test of strong resistance at the 1.7700 level
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.7900 | * | 50% Apr/May fall | S1 | 1.7500 | * | congestion | |
| R3 | 1.7800 | * | congestion | S2 | 1.7400 | * | congestion | |
| R2 | 1.7745 | * | 38.2% Apr/May fall | S3 | 1.7260/50 | * | 50%, 14 May low | |
| R1 | 1.7700 | ** | 10 Apr low | S4 | 1.7185 | ** | Aug 2024 year high |
Asterisk denotes strength of level
07:30 GMT - Lower in consolidation following test of strong resistance at the 1.7700 level. Positive daily studies keeps pressure on the upside and break here will extend bounce from 1.7250 low to retrace losses from the 1.8555, 9 April YTD high. Higher will see room to 1.7745, 38.2% Fibonacci level. Meanwhile, support is raised to the 1.7500/1.7400 congestion area which is expected to underpin. Would take break here to return focus to the downside for retest of support at 1.7250 low and 1.7185, August 2024 year high.