E EUR/AUD Looking Bearish

EUR/AUD  made a nice drop yesterday, down from 1.580 level which we labeled as sub-wave v of 3. This drop can now look for support and a bullish reversal near the 1.5600 area, from where a temporary corrective rise can follow, which can later look for resistance near the 1.580 region.

A later drop from there would suggest a completed wave 4 and more weakness into wave 5 of a higher degree impulse.

EUR/AUD, 1h

(Click on image to enlarge)

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