EURAUD continues to fall inside the C-wave of the medium-term ABC correction (2) – which started earlier from the lower trendline of the recently broken daily up channel from September (acting as resistance after it was broken by the previous wave A). Given the moderate bearish sentiment affecting the Euro – coupled with the medium Australian Dollar bullish sentiment seen across the markets – EURAUD is likely to fall further toward the next support level 1.6065 (target price calculated for the completion of the active C-wave).