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EURAUD reversed from resistance area; Likely to fall to 1.63000

EURAUD recently reversed down from the resistance area located between the long-term resistance level 1.65400 (which has been reversing the price from the start of June, as can be seen below) and the upper daily Bollinger Band. Given the rising bullish Australian dollar sentiment seen across the currency markets today, EURAUD is likely to fall further toward the next support level 1.63000 (former minor support pivot from the start of September).

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