EURAUD Wave Analysis 21 December, 2020

• EURAUD reversed from support level 1,6025

• Likely to rise to 1,6370

EURAUD recently reversed up from the long-term support level 1,6025 (which has been reversing the price from the middle of 2019 – intersecting with the lower weekly Bollinger Band.

The upward reversal from the support level 1,6025 started the active weekly corrective wave 2.

EURAUD is expected to rise further toward the next resistance level 1,6370 (top of the previous weekly corrective wave ② from the start of December).