EUR/AUD broke pivotal resistance level 1.4650

EUR/AUD broke pivotal resistance level 1.4650

  • EUR/AUD broke pivotal resistance level 1.4650
  • Next buy target - 1.4900

EUR/AUD continues to rise inside the sharp minor impulse wave 3 - which previously broke the pivotal resistance level 1.4650 (which stopped earlier waves (4) and (i), as can be seen from the daily EUR/AUD chart below). The breakout of the resistance level 1.4650 accelerated the active minor impulse wave 3, which belongs to the sharp intermediate (C)-wave from the end of March.

EUR/AUD is expected to rise further in the direction of the next buy target at the next resistance level 1.4900 (which stopped the previous minor B-wave in last November).

 

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