Technical analysis

EURAUD Wave Analysis 15 August 2023

– EURAUD reversed from support level 1.6770

– Likely to rise to resistance level 1.6930

EURAUD currency pair recently reversed up from the pivotal support level 1.6770 (former multi-month high from April).

The upward reversal from the support level 1.6770 continues the minor impulse waves v and 3, which belong to the intermediate impulse wave (C) from June.

Given the clear daily uptrend, EURAUD can be expected to rise further toward the next resistance level 1.6930, target for the completion of the active impulse waves v and 3.

Article Rating
Rate this post