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 resistance level 1.5840
• Likely to rise to resistance level 1,6200
EURAUD recently broke above the resistance level 1.5840 (which stopped the pair earlier this month).
The breakout of the resistance level 1.5840 resistance level 1.5840 accelerated the active upward impulse wave (С) from the middle of November.
Given the clear daily uptrend, EURAUD can be expected to rise further toward the next resistance level 1,6200 (major resistance from February and the target for the completion of impulse wave (С)).
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