Categories: Technical analysis

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).

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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Tags: EURAUD

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