EUR/AUD reversed from key resistance level 1.5110

EUR/AUD reversed from key resistance level 1.5110

  • EUR/AUD reversed from key resistance level 1.5110
  • Next sell target - 1.4800

EUR/AUD continues to fall after the earlier downward reversal from the key resistance level 1.5110 (which is the lower boundary of the strong resistance area which has been reversing the pair from the end of May, as can be seen below). This resistance area was further strengthened by the upper daily Bollinger Band. Given the strength of the aforementioned resistance zone, EUR/AUD is expected to fall to the next sell target at the next support level 1.4800 (low of the previous correction 2).

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