EURAUD currency pair recently reversed up from the support area located between the pivotal support level 1.57500 (previous top of the impulse wave (1)), 20-day moving average and the 50% Fibonacci retracement of the previous upward impulse from the end of October. The upward reversal from this support area started the active minor impulse wave B. Given the clear daily uptrend, EURAUD currency pair can be expected to rise further toward the next round resistance level 1.60000 (target price for the completion of the active wave B).