Technical analysis

EURAUD Wave Analysis – 3 October, 2022

EURAUD Wave Analysis – 3 October, 2022

• EURAUD reversed from resistance level 1.5335

• Likely to fall to support level 1.500

EURAUD recently reversed down from the key resistance level 1.5335 (which has been reversing the price from the start of March), upper daily Bollinger Band and the 50% Fibonacci correction of the downward impulse from February.

The downward reversal from the resistance level 1.5335 stopped the previous short-term ABC correction 2.

Given the widespread euro sales, EURAUD can be expected to fall further toward the next round support level 1.5000.

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