EURAUD: ⬆️ Buy
- EURAUD reversed from multi-month support level 1.6130
- Likely to rise to resistance level 1.6385
EURAUD currency pair recently reversed up from the strong multi-month support level 1.6130 (upper border of the narrow support zone, which has been reversing the price from the middle of 2024).
The upward reversal from the support level 1.6130 stopped the previous weekly impulse wave C of the weekly downward ABC correction (2) from the start of 2025.
Given the strength of the support level 1.6130 and the bullish divergence on the weekly RSI indicator, EURAUD currency pair can be expected to rise to the next resistance level 1.6385.