EUR/AUD reversed from support zone

EUR/AUD reversed from support zone

  • EUR/AUD reversed from support zone
  • Next buy target - 1.5760

EUR/AUD continues to rise inside the sharp minor impulse wave (iii) – which recently reversed up from the support area lying between the key support level 1.5500 (which stopped the previous minor correction ii), upper trendline of the recently broken daily up channel from September (acting as support after it was broken earlier) and the 38.2% Fibonacci correction of the previous impulse (i). EUR/AUD is expected to rise to the next buy target at the next resistance level 1.5760 (top of the impulse (i)).


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Levels to trade EUR/USD

The price action in EUR/USD has been quite unfavorable for the euro. On The W1, the 50-week MA limited the pair’s advance.

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