Published: 2024-11-07T07:08:28.000Z
Chart EUR/AUD Update: Extending losses from 1.6600 high
Technical Analyst
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Break of the 1.6400 level and 1.6350 support extend sharp pullback from the 1.6600 high
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.6440 | * | 4 Nov low | S1 | 1.6200 | * | figure | |
| R3 | 1.6400 | * | congestion | S2 | 1.6130 | * | Jan low | |
| R2 | 1.6350 | ** | 8 Oct high | S3 | 1.6100 | * | congestion | |
| R1 | 1.6300 | * | congestion | S4 | 1.6000 | ** | Jun/Oct YTD lows |
Asterisk denotes strength of level
07:10 GMT - Break of the 1.6400 level and 1.6350 support extend sharp pullback from the 1.6600 high. Neagtive daily studies weighs and see the 1.6200 level now within reach. Break here will see room for extension to retest tghe 1.6130 support then the 1.6100 congestion. Below these will expose the June/October YTD lows at the 1.6000 level to retest. Below the latter will extend the broader losses from the 1.7185, August high. Meanwhile, resistance is lowered to the 1.6300/1.6350 area which is expected to cap and sustain losses from the 1.6600 high.