Euro notes in denominations of fives and tens are arranged for a photograph in London, U.K., on Wednesday, Jan. 18, 2012. The euro strengthened and commodities rallied as an official at a Group of 20 nation said the International Monetary Fund is proposing a $1 trillion expansion of its lending resources. U.S. index futures rose before Goldman Sachs Group Inc. reports earnings. Photographer: Simon Dawson/Bloomberg via Getty Images
• EURAUD broke daily up channel
• Likely to fall to support level 1.5360
EURAUD recently broke the support trendline of the minor daily up channel from March (which encloses the previous intermediate ABC correction (2)).
The breakout of this daily up channel should accelerate the active downward impulse (3).
EURAUD is likely to fall further toward the next support level 1.5360 (low of wave B of the previous ABC correction (2)).
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