- EURAUD broke support area
- Further losses are likely
EURAUD recently broke the support area lying between the support level 1.6400 (former strong resistance from June) and the 38.2% Fibonacci correction of the previous upward impulse from July.
The breakout of this support area accelerated the active short-term ABC correction 2 from the start of August.
EURAUD is expected to fall further and retest the next support level 1.6200 (former resistance from July).