September 30, 2020 at 03:24PM

• EURAUD reversed from resistance area

• Likely to fall to 1.6125

EURAUD recently down from the resistance area located between the key resistance level 1.6560 (which has been reversing the price from the middle of June) and the upper daily Bollinger Band.

The downward reversal from this resistance area stopped the previous medium-term ABC correction (II).                               

EURAUD is likely to fall further toward the next support level 1.6125 (low of the previous corrective waves (A) and (C)).

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From: The FxPro Tech Analysis Team
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