EurAud with my 1.63 target in sight

26 Sep 2023

In my 20 September post, I wrote that EurAud could correct further and eventually reach 1.63 important support zone.
Indeed, after a test of the indicated resistance at that moment, the pair dropped again to new support at 1.6450-1.6470 zone.
Yesterday the rally was met once again with selling power shy under 1.66 and now we are again at support.
All recent price action suggests down continuation and I expect a break under 1.6450 support.
In this case, my 1.63 target is the most obvious one and also the most probable.