EURAUD Wave Analysis – 7 May 2025

- EURAUD reversed from the support zone
- Likely to rise to resistance level 1.7700

EURAUD currency pair recently reversed from the support zone between the support level 1.7415 (former resistance from the start of March), the lower daily Bollinger Band and the 50% Fibonacci correction of the upward impulse from February.

The upward reversal from this support zone stopped the previous short-term impulse wave 3.

Given the strength of the support level 1.7415 and the oversold daily Stochastic, EURAUD currency pair can be expected to rise to the next resistance level 1.7700.