Technical analysis

EURAUD Wave Analysis – 30 September, 2022

EURAUD Wave Analysis – 30 September, 2022

• EURAUD broke resistance level 1.5000

• Likely to rise to resistance level 1.5400

EURAUD currency pair rising strongly after it broke the round resistance level 1.5000 (which stopped the previous minor wave (a)) intersecting with the resistance trendline from February and the 61,8% Fibonacci correction of the downward impulse form July.

The breakout of the resistance level 1.5000 accelerated the (c)-wave of the active minor ABC correction 2 from the end of August.

EURAUD currency pair can be expected to rise further toward the next resistance level 1.5400 (target for the completion of the active wave 2, multi-month high from June).

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