Technical analysis

EURAUD Wave Analysis – 30 June, 20211

• EURAUD reversed from resistance area

• Likely to fall to support level 1.5675

EURAUD currency pair recently reversed down from the resistance area lying between the pivotal resistance level 1.5855 intersecting with the upper daily Bollinger Band and the 38.2% Fibonacci correction of the downward impulse from last October.

The downward reversal from this resistance area stopped the previous impulse wave (C).

EURAUD can be expected to fall further toward the next support level 1.5675 (which has been reversing the price from the start of June).

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