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 reversed up from the support area lying between the key support level 1.5720 (which has been reversing the price from January) and lower daily Bollinger Band.
The upward reversal from this support area stopped the previous long-term ABC correction ② from the start of this year.
EURAUD is expected to rise further and re-test the next resistance level 1.5850 (top of the previous corrections 4 and (a)).
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