EURAUD currency pair recently reversed don from the resistance area located between the pivotal resistance level 1.56000 (former support from January, which has been reversing the price from the end of March) and the upper daily Bollinger Band. The downward reversal from this resistance area stopped the previous minor impulse wave (C). Given the prevailing daily downtrend and the strongly bearish AUD sentiment seen across the FX markets today – EURAUD currency pair can be expected to fall further toward the next support level 1.54000 (which has been reversing the price from the end of March).