EUR/AUD may resume lower [Video]
|At the start of 2025, EURAUD made a massive push up, but out of a bullish wave B triangle, so that leg up was wave C, and it could be now finished at 1,85 area. Keep in mind that moves out of a triangle are final in a sequence, so it’s not a surprise that we see a sharp reversal, which can be a signal for the top. That being said, be aware of bears and more weakness after the current deep corrective rally which can be now finished at 61.8% Fib resistance; an ideal turning point.
EURAUD pair is coming sharply and impulsively down back below channel support line in the 4-hour chart, which confirms resistance in place and bearish reversal. It can be actually still unfolding a five-wave bearish impulse, so after current wave 4 pullback, be aware of more weakness for wave 5 down to 1,76 area.
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