Published: 2025-07-17T07:34:49.000Z
Chart EUR/AUD Update: Extending gains within May rising channel
Technical Analyst
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Bounce from the 1.7720 low of last week see prices tracking higher 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
07:30 GMT - Bounce from the 1.7720 low of last week see prices tracking higher within the rising channel from the May low as prices retrace losses from the 1.8100 high. 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 and lower high sought for retest of 1.7800 congestion and 1.7720/00 support later. Break of the latter will see room for deeper pullback to retrace the choppy May/July gains. Lower will see scope to support at 1.7630 then 1.7460/00, 10 June low and congestion.