• EURAUD reversed from support area
• Likely to rise to 1.6500
EURAUD recently reversed up sharply from the support area lying between the multi-month support level 1.6085 (which has been reversing the price from the start of January) and the lower daily Bollinger Band.
The upward reversal from this support area will likely form the daily candlesticks reversal pattern Bullish Engulfing – if the price closes today near the current levels.
EURAUD is likely to rise further toward the next resistance level 1.6500 (former support from the end of May).
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