EURAUD currency pair continues to rise after the price broke through the resistance area located between the key resistance level 1.56200 (former multi-month support from the start of July) and the 38.2% Fibonacci correction of the downward price impulse from the middle of September, as can be seen below. The breakout of this resistance area accelerated the active medium-term impulse wave (3). Given the strong euro bullishness seen across the FX markets today, EURAUD currency pair can be expected to rise further toward the next resistance level 1.58000 (50% Fibonacci correction of the downward price impulse from September).