EUR/AUD reversed from support area

EUR/AUD reversed from support area

2019-11-11 • Updated

  • EUR/AUD reversed from support area
  • Next buy target - 1.6160


EUR/AUD recently reversed up from the support zone lying between the support level 1.5860 (which reversed the previous wave (iv)), lower daily Bollinger Band and the 61.8% Fibonacci correction of the previous upward impulse from March. The upward reversal from this support zone created the daily Japanese candlesticks reversal pattern Hammer. EUR/AUD is expected to rise toward the next buy target at next resistance level 1.6160 (high of the previous impulse 1).


EUR/USD Hit All Targets
EUR/USD Hit All Targets

4H Chart  Daily Chart  EURUSD managed to rise further on Friday inline with our expectations, reaching our entire targets mentioned in our previous notes at 1…

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