Technical analysis

EURAUD Wave Analysis – 21 June 2023

– EURAUD broke round resistance level 1.6000

– Likely to rise to resistance level 1.6300

EURAUD currency pair recently broke the round resistance level 1.6000, former strong support from April of last year.

The breakout of the resistance level 1.6000 accelerated the active short-term correction 2 .

Given the strongly bearish AUD sentiment seen across the FX markets today , EURAUD can be expected to rise further to the next resistance level 1.6300 (target price for the completion of the active correction 2).

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