EURAUD Wave Analysis – 1 July, 2020

• EURAUD broke pivotal support level 1.6285

• Likely to fall to 1.6085

EURAUDrecently broke below the pivotal support level 1.6285 (former multi-candle low which reversed the price repeatedly in June, as can be seen below).

The breakout of the support level 1.6285 should accelerate the active short-term impulse wave 3 – which belongs to the higher level impulse sequence (1) from last month. EURAUD is likely to fall further toward the next support level 1.6085 – former monthly low from February and June.