Published: 2025-04-02T06:05:59.000Z
Chart EUR/AUD Update: Sharp pullback shift focus to 1.7050 support
Technical Analyst
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Sharp rejection from the 1.7365 high has seen losses through the 1.7200/1.7185 support
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.7400/18 | ** | congestion, 11 Mar YTD high | S1 | 1.7050 | ** | 26 Mar low | |
| R3 | 1.7365 | * | 31 Mar high | S2 | 1.7010/00 | * | 38.2%, congestion | |
| R2 | 1.7270 | * | 21 Mar high | S3 | 1.6930 | 5 Mar low | ||
| R1 | 1.7200 | * | congestion | S4 | 1.6885 | * | 50% Feb/Mar rally |
Asterisk denotes strength of level
06:00 GMT - Sharp rejection from the 1.7365 high has seen losses through the 1.7200/1.7185 support as intraday studies unwind overbought readings. Lower will see room to the 1.7100 level though focus has turned to the 1.7050 low of last week. Reaction here can be expected while break here will confirm a double top at the 1.7365/1.7418 highs and see room for deeper pullback to retrace rally from the February low. Lower will see room to 1.7010, 38.2% Fibonacci level. Meanwhile, resistance is lowered to the 1.7185/1.7200 congestion area now expected to cap and sustain losses from the 1.7365, Monday's high.