Technical analysis

EURAUD Wave Analysis 19 March, 2021

EURAUD Wave Analysis 19 March, 2021

• EURAUD reversed from support level 1.5265

• Likely to reach support level 1.5525

EURAUD previously reversed up from the pivotal support level 1.5265 coinciding with the lower daily Bollinger Band.

The upward reversal from the support level 1.5265 created the daily Japanese candlesticks reversal pattern Hammer Doji.

EURAUD is likely to rise further toward the next resistance level 1.5525 (intersecting with the resistance trendline of the daily down channel from October).

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