Technical analysis

EURAUD Wave Analysis 18 February, 2021

EURAUD Wave Analysis 18 February, 2021

• EURAUD under bearish pressure

• Likely to test the support level 1.5400

EURAUD under bearish pressure after the price broke the key support level 1.5600 (which stopped the price twice in the middle of January).

The breakout of the support level 1.5600 accelerated the active downward impulse wave (3).

Given the clear daily downtrend – EURAUD currency pair can be expected to fall further toward the next support level 1.5400.

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