EURAUD Wave Analysis 26 November 2024

- EURAUD reversed from support zone
- Likely to rise to resistance level 1.6350

EURAUD currency pair previously reversed from support area set between the pivotal support level 1.6020 (which has been reversing the pair from the end of June) and the lower daily Bollinger Band.

The upward reversal from this support zone created the daily Japanese candlesticks reversal pattern Morning Star Doji.

Given the oversold daily Stochastic, EURAUD currency pair can be expected to rise further to the next resistance level 1.6350 (top of the previous wave (2)).