EURAUD recently reversed down from the resistance area lying between the resistance level 1.6300 (which has been reversing the price from October), upper daily Bollinger Band and the 61.8% Fibonacci correction of the previous ABC correction 2.
The downward reversal from the resistance level 1.6300 stopped the previous sharp impulse wave 3 from December.
EURAUD is likely to fall further toward the next support level 1.6150 (former support from last month). Strong resistance stands at the resistance level 1.6300.
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