EURAUD: ⬇️ Sell
- EURAUD falling inside daily down channel
- Likely to fall to support level 1.6200
EURAUD currency pair has been falling in the last few trading sessions inside the sharp daily downward channel from the end of January.
The price earlier broke out of the daily down channel from last October – which accelerated the active short-term impulse wave 5 of the intermediate impulse wave (3) from October.
Given the overriding daily downtrend and the strongly bearish euro sentiment seen today, EURAUD currency pair can be expected to fall to the next support level 1.6200.
