EURAUD previously broke the support area lying between the support level 1.6080 (which as set as the sell target in our earlier forecast for this currency pair) and the 61.8% Fibonacci correction of the previous sharp upward impulse wave (1) from the middle of September. Given the moderate bullish Euro sentiment seen across the markets, EURAUD is likely to remain under the bearish pressure today and to extend the losses toward the next round support level 1.6000 (low of the earlier Bullish Engulfing candlesticks pattern from September)