Categories: Technical analysis

EURAUD Wave Analysis – 7 May 2025

EURAUD: ⬆️ Buy

– EURAUD reversed from the support zone

– Likely to rise to resistance level 1.7700

EURAUD currency pair recently reversed from the support zone between the support level 1.7415 (former resistance from the start of March), the lower daily Bollinger Band and the 50% Fibonacci correction of the upward impulse from February.

The upward reversal from this support zone stopped the previous short-term impulse wave 3.

Given the strength of the support level 1.7415 and the oversold daily Stochastic, EURAUD currency pair can be expected to rise to the next resistance level 1.7700.

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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The FxPro Tech Analysis Team
Tags: EURAUD

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