Technical analysis

EURAUD Wave Analysis – 19 June 2023


– EURAUD reversed from support level 1.5855

– Likely to rise to resistance level 1.6045

EURAUD currency pair recently reversed up from the key support level 1.5855 (former support from March), strengthened by the lower daily Bollinger Band and by the 61.8% Fibonacci correction of the upward impulse from February.

The upward reversal from the support level 1.5855 started the active corrective wave 3.

Given the still oversold daily Stochastic, EURAUD can be expected to rise further toward the next resistance level 1.6045, former support from April.

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