Published: 2025-04-16T07:40:46.000Z
Chart EUR/AUD Update: Room to extend corrective pullback
Technical Analyst
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Choppy trade see pressure returning to the 1.7700 support following rejection from the 1.8555 high of last week
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.8555 | ** | 9 Apr YTD high | S1 | 1.7700 | * | 10 Apr low | |
| R3 | 1.8500 | * | 76.4% 2020/2022 fall | S2 | 1.7520 | * | 3 Apr high | |
| R2 | 1.8200 | * | congestion | S3 | 1.7415/00 | ** | Mar high, congestion | |
| R1 | 1.8000 | * | congestion | S4 | 1.7185 | ** | Aug 2024 year high |
Asterisk denotes strength of level
07:35 GMT - Choppy trade see pressure returning to the 1.7700 support following rejection from the 1.8555 high of last week. Daily studies are unwinding overbought readings and see risk for break here to trigger deeper correction of the rally from 1.6360, February YTD low. Lower will see room to 1.7520 support then the strong support at 1.7415/00, March high. Meanwhile, resistance is lowered to the 1.8000 congestion which is expected to cap and sustain losses from the 1.8555 high.