EUR/AUD broke resistance zone

EUR/AUD broke resistance zone

  • EUR/AUD broke resistance zone
  • Next buy target - 1.4400

EUR/AUD continues to rise after the earlier breakout of the combined resistance zone lying between the resistance level 1.4180 (which stopped the previous sharp (a)-wave earlier this month), the 100-day moving average, resistance trendline of the wide daily down channel from 2016 and the 50% Fibonacci correction of the previous sharp minor impulse wave (i) from December.

EUR/AUD is expected to rise further in the active minor ABC correction (ii) toward the next buy target at the resistance level 1.4400.

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