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 recently broke the support area lying between the support level 1.6400 (former strong resistance from June) and the 38.2% Fibonacci correction of the previous upward impulse from July.
The breakout of this support area accelerated the active short-term ABC correction 2 from the start of August.
EURAUD is expected to fall further and retest the next support level 1.6200 (former resistance from July).
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