Technical analysis

EURAUD Wave Analysis 26 April, 2021

• EURAUD reversed from resistance zone

• Likely to fall to support level 1.5425

EURAUD recently reversed down from the resistance zone lying between the resistance levels 1.5580 and 1.5670 – which have been reversing the price from February.

This resistance zone was further strengthened by the upper daily Bollinger Band and by the 50% Fibonacci correction of the downward impulse from January.

EURAUD currency pair is likely to fall further toward the next support level 1.5425 (low of the previous impulse wave 1).

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