EURAUD currency pair recently reversed down from the resistance area lying between the key resistance level 1.57650 (top of the previous correction (a)), upper daily Bollinger Band and the resistance trendline of  the daily down channel from the start of December. This downward reversal stopped the previous corrective wave (c). Given the clear daily downtrend and the strongly bullish Australian dollar sentiment seen across the currency markets today – EURAUD currency pair can be expected to fall further toward the next support level 1.56000 (which stopped the two previous waves (iii) and (b) earlier this month).