Published: 2025-05-27T04:52:38.000Z
Chart EUR/AUD Update: Extend corrective bounce
Technical Analyst
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Pressure remains on the upside as prices extend bounce from 1.7250 low to retrace losses from the 1.8555, 9 April YTD high
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.7900 | * | 50% Apr/May fall | S1 | 1.7500 | * | congestion | |
| R3 | 1.7800 | * | congestion | S2 | 1.7400 | * | congestion | |
| R2 | 1.7700/45 | ** | 10 Apr low, 38.2% | S3 | 1.7260/50 | * | 50%, 14 May low | |
| R1 | 1.7635 | * | 22 May high | S4 | 1.7185 | ** | Aug 2024 year high |
Asterisk denotes strength of level
04:50 GMT - Pressure remains on the upside as prices extend bounce from 1.7250 low to retrace losses from the 1.8555, 9 April YTD high. Above the 1.7635 high will see room for stronger gains to strong resistance at the 1.7700/1.7745, 10 April low and 38.2% Fibonacci level. Higher still, if seen, will see room to 1.7800 congestion. Meanwhile, support is raised to the 1.7400 level. Would take break here to return focus to the downside for retest of the 1.7250 low and deeper pullback to retrace November/April rally.