Categories: Technical analysis

EURAUD Wave Analysis – 9 November, 2021

• EURAUD broke resistance level 1.5600

• Likely to rise to resistance level 1.5773                                                                  


EURAUD currency pair recently broke the resistance level 1.5600 (former monthly low from July), intersecting with the 38.2% Fibonacci correction of the previous sharp downward impulse from the start of October.

The breakout of the resistance level 1.5600 accelerated the active intermediate impulse wave (C).

EURAUD currency pair can be expected to rise further toward the next resistance level 1.5773 (61.8% Fibonacci correction of the downward impulse from last month).

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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