Published: 2025-07-09T06:52:57.000Z
Chart EUR/AUD Update: Extending gains
Technical Analyst
1
Turned down from test of 1.8100 level to pressure the 1.7900 support as prices unwind overbought intraday studies
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.8400 | * | congestion | S1 | 1.7900 | * | congestion | |
| R3 | 1.8245 | * | 76.4% Apr/May fall | S2 | 1.7805 | * | 23 Jun low | |
| R2 | 1.8100 | ** | 7 Jul high | S3 | 1.7700 | * | congestion | |
| R1 | 1.8000 | * | congestion | S4 | 1.7630 | ** | 18 Jun low |
Asterisk denotes strength of level
06:45 GMT - Turned down from test of 1.8100 level to pressure the 1.7900 support as prices unwind overbought intraday studies. Divergence on daily studies see risk for break here to retrace gains from the May low at 1.7250 and see room to 1.7805, 23 June low. Lower still, will see scope to strong support at the 1.7700/1.7630 area. Meanwhile, resistance is lowered to the 1.8000 level which is expected to cap and sustain pullback from the 1.8100 high. Break here, if seen, will further extend the May gains to the 1.8245 Fibonacci level.