EURAUD Wave Analysis 2 March, 2021

• EURAUD reversed from resistance level 1.5700

• Likely to fall to support level 1.5300

EURAUD recently reversed down from the resistance level 1.5700 (which has been reversing the price from the start of February) – standing near to the resistance trendline of the daily down channel from October.

The downward reversal from the resistance level 1.5700 started the active medium-term impulse sequence (3).

EURAUD is likely to fall further toward the next support level 1.5300 (which stopped the previous impulse wave (1)).