EURAUD Wave Analysis 26 February, 2021

• EURAUD reversed from support area

• Likely to reach resistance level 1.6000

EURAUD recently reversed up from the support area lying between the long-term support level 1.5390 (which has been reversing the price from the middle of 2018) and the lower daily Bollinger band.

The upward reversal from this support area is likely to form the weekly candlesticks reversal pattern Bullish Engulfing.

EURAUD is likely to rise further toward the next resistance level 1.6000 (top of the previous corrective wave ② from the start of this year).