• EURAUD reversed from key support level 1,5900
• Likely to rise to resistance level 1.6130
EURAUD currency pair recently reversed up from key support level 1,5900 (which stopped the previous wave 4 at the end of July), intersecting with the lower daily Bollinger band.
The support zone near the support level 1,5900 was further strengthened by the 50%Fibonacci correction of the upward impulse (C) from the start of July.
EURAUD currency pair can be expected to rise further toward the next resistance level 1.6130.