EUR/AUD reversed from resistance area

EUR/AUD reversed from resistance area

  • EUR/AUD reversed from resistance area
  • Next sell target - 1.5860

EUR/AUD recently reversed down from the resistance area lying between the key resistance level 1.6160 (which stopped the previous impulse wave 5 in March, as can be seen below) and the upper daily Bollinger Band. The downward reversal from this resistance area created the daily Japanese candlesticks reversal pattern Evening Star.  EUR/AUD is expected to fall toward the next sell target at the next support level 1.5860 (former support from April).

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