Technical analysis

EURAUD Wave Analysis – 9 June 2023

– EURAUD broke key support level 1.6045

– Likely to fall to support level 1.5855

EURAUD recently broke the key support level 1.6045 (which stopped the previous minor correction ii at the end of March).

The breakout of the support level 1.6045 accelerated the active downward impulse wave (c), which belongs to the ABC correction 2 from the end of April.

EURAUD can be expected to fall further toward the next support level 1.5855 (target price for the completion of the active impulse wave (c)).

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