EURAUD found resistance for its wave iv correction as part of a downtrend at the 1.625 level from where a final leg v followed. This leg v can look for support, and a temporary recovery into a three-wave correction near the Fibonacci ratio of 161.8/423.6 (1.610/1.608 region).
EURAUD, 1h
EURNZD is similat to EURAUD. We see pair falling as expected, and is currently still trading below the trend line, connected from June 21th. Seems like price is turning down again after only three waves of recovery, ideally into a wave “iv”, so new lows can be coming for a wave “v” of 3 towards 1.6840 – 1.6800 target area. Invalidation level remains at 1.7090, in case if price unfolds more complex.
EURNZD, 1h
