EURAUD recently reversed up from the support area lying between the key support level 1.59800 (which has been reversing the price from the middle of September) and the lower daily Bollinger Band. The upward reversal from this support area stopped the previous short-term ABC correction (ii). Given the strength of the aforementioned support area, EURAUD is likely to rise further toward the next resistance level 1.61000 (former support from the start of December, acting as resistance after it was broken by the previous correction (ii)).