EURAUD: ⬆️ Buy
– EURAUD broke daily down channel
– Likely to rise to resistance level 1.6490
EURAUD currency pair recently broke the resistance trendline of the daily down channel from July, which enclosed the previous downward impulse (3).
The breakout of this down channel started the accelerated corrective wave 4, which earlier reversed up from the long-term support level 1.6100 – which has been reversing the price from March.
Given the recent breakout of the aforementioned down channel, EURAUD currency pair can be expected to rise further toward the next resistance level 1.6490 – which stopped wave (2) in July.