EURAUD Wave Analysis – 05 August, 2020
August 05, 2020 @ 17:29 +03:00
• EURAUD falling inside impulse wave 3
• Likely to fall to 1.6325
EURAUD recently reversed down from the pivotal resistance level 1.6540 (monthly high from June, previous powerful support from April and May) – standing near the upper daily Bollinger Band.
The downward reversal from the resistance level 1.6540 started the active short-term impulse wave 3.
EURAUD is likely to fall further toward the next support level 1.6325 (former minor correction low from the end of June).