Published: 2025-03-11T07:18:23.000Z
Chart EUR/AUD Update: Extending gains, but stretched
Technical Analyst
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Focus remains on the upside as prices extend steep gains from the 1.6360 February YTD low
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.7670 | * | 1 Apr 2020 low | S1 | 1.7185 | * | Aug 2024 year high | |
| R3 | 1.7600 | * | congestion | S2 | 1.7065 | * | Aug 2023 year high | |
| R2 | 1.7505 | * | 9 Apr 2020 high | S3 | 1.7000 | * | 4 Mar high, congestion | |
| R1 | 1.7350 | * | 16 Apr 2020 high | S4 | 1.6900 | * | congestion |
Asterisk denotes strength of level
07:15 GMT - Focus remains on the upside as prices extend steep gains from the 1.6360 February YTD low. Break above 1.7270 high of last week see prices reaching fresh high above the 1.7300 level and see scope to target 1.7350 and 1.7505, 16 and 9 April 2020 highs. Higher still will see room to the 1.7600/1.7670 area though the deep overbought intraday and daily studies caution corrective pullback. Meanwhile, support is raised to the August 2024 year high at 1.7185 and expected to underpin. Only below here will open up room for deeper pullback to retrace rally from the February low.