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EURAUD continues to fall after the previous downward reversal from resistance area lying between the multi- month resistance level 1.65400 (which has been reversing the price from the start of June) and the upper daily Bollinger Band. Given the strong bullish sentiment affecting the Australian dollar today, coupled with the long-term downtrend seen on the daily EURAUD charts – the pair is likely to fall further toward the next support level 1.61200 (previous monthly low from September).
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