The price line on EURAUD price chart has been going through an ascending wave since a few days ago. The slope of the ascending wave is very high and it suggests over buying in the market, on this pair. RSI is also approaching over bought area and has also issued negative divergence. The horizontal levels on the chart indicate the Fibonacci retracement levels. The price line is now on level 0.618 and a bearish leg can be expected, and the commencement can be detected on shorter time frames, by ant bearish triggers.

• There is a resistance level at 1.55012 followed by resistance at 1.568015 and 1.58000
• There is a support level at 1.52546. Below, there is 1.51680 and 1.500000

Note: We do not suggest any investment advice, and these analyses are just to increase the traders’ awareness but not a certain instruction for trading.

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