Tue, Feb 07, 2023 @ 05:12 GMT

EURAUD Wave Analysis

  • EURAUD under the bullish pressure
  • Likely to rise to resistance level 1.5650

EURAUD under the bullish pressure after the earlier upward reversal from the major support level 1.5332 (former strong resistance from March and June) – which has been steadily reversing the price from November.

The upward reversal from the support level 1.5332 created the clear daily Japanese candlesticks reversal pattern Piercing Line.

EURAUD can be expected to rise further toward the next resistance level 1.5650 (top of the previous intermediate correction (2)).

FxPro is an award-winning online broker offering Contracts for Difference (CFDs) on forex, futures, spot indices, shares, spot metals and spot energies. FxPro serves clients in over 150 countries worldwide and offers multilingual customer support 24/5. Trading CFDs involves significant risk of loss.

Featured Analysis

Learn Forex Trading