• EURAUD reversed from support area
• Likely to rise to resistance level 1.6040
EURAUD currency pair recently reversed up from the support area located between the support level 1.5910 (which has been reversing the price from the end of July) and the 61.8% Fibonacci correction of the upward impulse from the start of July.
The upward reversal from this support area stopped the previous intermediate impulse wave (1).
EURAUD can be expected to rise further toward the next resistance level 1.6040. Strong support remains at the support level 1.5910.
