Published: 2025-05-30T07:34:46.000Z
Chart EUR/AUD Update: Extending gains
Technical Analyst
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Break above 1.7600 see prices extending bounce from the 1.7460 support to set up scope for retest of strong resistance at 1.7700
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.7900 | * | 50% Apr/May fall | S1 | 1.7460 | * | congestion | |
| R3 | 1.7800 | * | congestion | S2 | 1.7400 | * | congestion | |
| R2 | 1.7745 | * | 38.2% Apr/May fall | S3 | 1.7260/50 | * | 50%, 14 May low | |
| R1 | 1.7700 | ** | 10 Apr low | S4 | 1.7185 | ** | Aug 2024 year high |
Asterisk denotes strength of level
07:35 GMT - Break above 1.7600 see prices extending bounce from the 1.7460 support to set up scope for retest of strong resistance at 1.7700, 10 April low. Positive daily studies keeps pressure on the upside and break here will extend bounce from 1.7250 low to retrace losses from the 1.8555, 9 April YTD high. Higher will see room to 1.7745, 38.2% Fibonacci level. Meanwhile, support is raised to the 1.7460 congestion which now underpin. Would take break here to return focus to the downside for retest of support at 1.7400 and 1.7250 low.