Categories: Technical analysis

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.

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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The FxPro Tech Analysis Team
Tags: EURAUD

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