EUR/AUD broke resistance zone

EUR/AUD broke resistance zone

2019-11-11 • Updated

  • EUR/AUD broke resistance zone
  • Next buy target - 1.6130

 EUR/AUD recently broke through the resistance zone lying between the key resistance level 1.5870 (which has reversed the price multiple times from the start of July, as can be seen below) and the resistance trendline from last March. The breakout of this resistance zone accelerated the active intermediate impulse wave (C) from June. EUR/AUD is expected to rise further toward the next buy target at the next resistance level 1.6130 (monthly high from April).

         

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