EURAUD Wave Analysis – 3 February, 2022

• EURAUD broke resistance zone

• Likely to rise to resistance level 1.6125

EURAUD currency pair recently broke the resistance zone lying between the key resistance level 1.5950 (which has been reversing the pair from January) and the 61.8% Fibonacci correction of the previous ABC correction (2) from December.

The breakout of this resistance zone accelerated the both of the active impulse waves (iii) and 3 of wave (3) from December.

EURAUD currency pair can be expected to rise further toward the next resistance level 1.6125 (target price for the completion of the active impulse wave 3).