EURAUD currency pair recently reversed up from the support area located between the key support level 1.5900 (which stopped the previous minor correction 4 at the end of July), lower daily Bollinger band and the 50% Fibonacci correction of the upward price impulse (C) from last month. The upward reversal from this support zone is likely to form the daily Morning Star today. Given the strong Australian dollar outflows – EURAUD currency pair can be expected to rise further toward the next resistance level 1.61000 (former top of wave 3 from the middle of July).