EURAUD continues to rise inside the sharp upward impulse wave 3, which started earlier from the support area lying between the major support level 1.59800 (former monthly low from November) and the lower daily Bollinger Band. The price earlier broke the resistance level 1.61000 – which strengthened the bullish pressure on this currency pair. With the strong bearish sentiment affecting Australian dollar, EURAUD is likely to rise further toward the next strong resistance level 1.63000 (which reversed the price multiple times from October).