Published: 2025-02-27T07:01:48.000Z
Chart EUR/AUD Update: Extending gains
Technical Analyst
-
Break above the 1.6600/33 resistance see prices extending bounce from the 1.6355 low of last week
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.6870 | * | 6 Aug high | S1 | 1.6500 | * | congestion | |
| R3 | 1.6790/00 | ** | 3 Feb YTD, Dec high | S2 | 1.6400 | * | congestion | |
| R2 | 1.6700 | * | congestion | S3 | 1.6355/50 | ** | 20 Feb low, congestion | |
| R1 | 1.6650 | * | 26 Feb high | S4 | 1.6300/85 | * | congestion, 61.8% |
Asterisk denotes strength of level
07:00 GMT - Break above the 1.6600/33 resistance see prices extending bounce from the 1.6355 low of last week. Positive daily studies keeps focus on the upside and above the 1.6650 high will see room to 1.6700 congestion. Beyond this will open up the February YTD high at 1.6790 to retest. Would expect reaction at the latter and pullback here should see support now raised to the 1.6600/1.6500 congestion area. The latter now seen protecting the downside and sustaining gains from the 1.6355/1.6350 support.