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EURAUD Wave Analysis – 9 July, 20211

• EURAUD reversed from resistance level 1.5935
• Likely to fall to support level 1.5735

EURAUD currency pair recently reversed down from the pivotal resistance level 1.5935 (previous multi-month high from January), intersecting with the upper daily Bollinger band.

The resistance zone near the resistance level 1.5935 was strengthened by the nearby 50% Fibonacci retracement of the extended downward impulse from October.

EURAUD can be expected to fall further toward the next support level 1.5735 (which has been reversing the price from May).

EURAUD Wave Analysis – 9 July, 20211

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