Technical analysis

EURAUD Wave Analysis 17 March, 2021

EURAUD Wave Analysis 17 March, 2021

• EURAUD reversed from support level 1.5350

• Likely to reach resistance level 1.5525

EURAUD previously reversed up from the pivotal support level 1.5350 (which has been reversing the price during the last few trading sessions).

The support zone near the support level 1.5350 was strengthened by the 78.6% Fibonacci correction level of the previous upward correction (2).

EURAUD currency pair is likely to rise further toward the next resistance level 1.5525 (intersecting with the daily down channel from last October).

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