
October 16, 2020 at 03:22PM

• EURAUD approached key resistance level 1.6575
• Likely to rise to 1.6760 if 1.6575 is broken
EURAUD today approached the key resistance level 1.6575 (which has been reversing the price from the middle of June) intersecting with the upper daily Bollinger Band.
If the pair breaks above the resistance level 1.6575 – EURAUD can be expected to rise further toward the next resistance level 1.6760 (former multi-candle resistance from May).
Alternatively the pair is likely to correct down to the next support level 1.6400 – if EURAUD fails to break above the resistance level 1.6575.

From: The FxPro Tech Analysis Team https://fxpro.news/market-snapshots/euraud-wave-analysis-16-october-2020-20201016/
Selected by fonecable.com

Search Web: EURAUD Wave Analysis 16 October, 2020
Recent Posts
- NEWS: Economic data coming up in the European session March 08, 2021 at 05:23AM
- NEWS: Germany reports 5,011 new coronavirus cases, 34 deaths in latest update today March 08, 2021 at 05:04AM
- NEWS: Japan January preliminary leading indicator index 99.1 vs 96.8 expected March 08, 2021 at 05:03AM
- Dollar Up, Drops Against Commodity Currencies but Holds Gains Against Yen
- NEWS: Goldman Sachs oil price forecasts March 08, 2021 at 04:58AM
Average Rating