NZD/JPY falling inside minor impulse wave C Next sell target - 76…
AUD/USD rising inside intermediate impulse wave (3)
- AUD/USD rising inside intermediate impulse wave (3)
- Next buy target - 0.7950
AUD/USD has been rising sharply in the last few trading sessions inside the intermediate impulse wave (3), which started earlier from the support area lying between the support level 0.77520 (former strong resistance level from March), lower daily Bollinger Band and the 50% Fibonacci retracement of the previous upward impulse from May. AUD/USD is expected to rise to the next buy target at the next resistance level 0.7950 (former support level from September which reversed the earlier wave A).
We've got a bearish "High Wave", which has strong confirmation. In this case, the price is likely going to decline.
Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…
The 144 Moving Average has acted as support, but there's a bearish "Engulfing' at the local high.