EURAUD currency pair recently reversed down from the resistance area lying between the key resistance level 1.58620 (which has been reversing the price from the end of May), upper daily Bollinger Band and the 50% Fibonacci correction of the downward price impulse from December to March. Given the strength of the aforementioned resistance area – EURAUD currency pair can be expected to fall further toward the next support level 1.57000 (which stopped numerous downward corrections from the start of May).
