Published: 2025-03-14T07:42:43.000Z
Chart EUR/AUD Update: Extending corrective pullback
Technical Analyst
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Extending pullback from the 1.7418 high to reach the 1.7185 support
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.7600 | * | congestion | S1 | 1.7185 | ** | Aug 2024 year high | |
| R3 | 1.7505 | * | 9 Apr 2020 high | S2 | 1.7065 | ** | Aug 2023 year high | |
| R2 | 1.7418 | ** | 11 Mar YTD high | S3 | 1.7000 | * | 4 Mar high, congestion | |
| R1 | 1.7270 | * | 7 Mar high | S4 | 1.6880 | * | 3 Mar high |
Asterisk denotes strength of level
07:40 GMT - Extending pullback from the 1.7418 high to reach the 1.7185 support as prices unwind the deep overbought intraday and daily studies. Lower will see room for deeper corrective pullback to retrace strong rally from the February YTD low at 1.6360 to the strong support at 1.7065, 2023 year high. Corrective pullback expected to give way to buying interest later with resistance lowered to the 1.7270/1.7300 area. Clearance here will expose the 1.7418 high to retest. Beyond this will see room to the resistance 1.7505 and 1.7600 congestion.