EURAUD currency pair recently broke through the support zone lying between the major support level 1.59000 (which has been reversing the pair from the end of July, as can be seen from the daily EURAUD chart below) and the 50% Fibonacci correction of the previous sharp upward impulse from May. The breakout of this support zone accelerated the active impulse wave 3. Given the rising Australian dollar bullishness as seen across the FX markets today, EURAUD currency pair can be expected to fall further toward the next support level 1.5770 (target for the completion of the active impulse wave 3).