EURAUD Wave Analysis – 24 March, 2020
March 24, 2020 @ 17:38 +03:00
- EURAUD reversed from round resistance level 2.0000
- Likely to fall to 1.8000
EURAUD recently reversed down sharply from the key round resistance level 2.0000 – standing well outside of the upper weekly Bollinger Band.
The downward reversal from the resistance level 2.0000 started the active weekly downward correction (ii) – which belongs to the longer-term impulse wave 3 from 2019.
Given the overbought reading on the weekly RSI indicator – EURAUD is likely correct down further toward the next support level 1.8000.