EURAUD Wave Analysis – 24 August, 2022

• EURAUD reversed from support level 1.4370

• Likely to rise to resistance level 1.4600

EURAUD currency pair recently reversed up from the support level 1.4370 (which stopped the sharp downtrend in April) intersecting with the lower daily Bollinger Band.

The upward reversal from the support level 1.4370.10 stopped the previous short-term downward impulse wave 3, which belongs to wave (3) from the start of August.

Given the clear bullish divergence on the daily Stochastic, EURAUD currency can be expected to rise further toward the next resistance level 1.4600.

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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Tags: EURAUD

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