EURAUD Wave Analysis – 6 January, 2022

• EURAUD broke key resistance level 1.5700• Likely to rise to resistance level 1.5865

EURAUD currency pair recently broke key resistance level 1.5700 (which has been reversing the price from December).

The breakout of the resistance level 1.5700 accelerated the active short-term impulse waves 1 and (3).

Given the rising euro bullishness seen today – EURAUD currency pair can be expected to rise further toward the next resistance level 1.5865 (which stopped the previous wave B last month).