• EURAUD reversed from support zone
• Likely to rise to resistance level 1.6130
EURAUD currency pair recently reversed up from the support zone lying between the key support level 1.5935 (former resistance from January and July) and the 38.2% Fibonacci correction of the upward impulse from the start of July.
The upward reversal from this support zone started the active short-term impulse wave (iii).
EURAUD currency pair can be expected to rise further toward the next resistance level 1.6130 (top of the previous impulse wave (i)).