Published: 2025-05-16T06:52:35.000Z
Chart EUR/AUD Update: Extend corrective bounce from 1.7250
Technical Analyst
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Turned up from the 1.7260/50, Fibonacci level and congestion area, as prices unwind oversold intraday and daily studies
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.7800 | * | congestion | S1 | 1.7400 | * | congestion | |
| R3 | 1.7700 | ** | 10 Apr low | S2 | 1.7260/50 | * | 50%, 14 May low | |
| R2 | 1.7600/30 | * | congestion, 8 May high | S3 | 1.7185 | ** | Aug 2024 year high | |
| R1 | 1.7500 | * | congestion | S4 | 1.7110 | * | Apr low |
Asterisk denotes strength of level
06:40 GMT - Turned up from the 1.7260/50, Fibonacci level and congestion area, as prices unwind oversold intraday and daily studies. Above the 1.7400 resistance see room for stronger corrective gains to the 1.7500 level and 1.7600/30 resistance. Higher will see room to strong resistance at the 1.7700 level. Corrective gains are expected to give way to renewed selling pressure later with support raised to the 1.7400 congestion. Break here will expose the 1.7250 low to retest. Lower will see deeper pullback to retrace November/April rally.