EUR/AUD broke support area

EUR/AUD broke support area

  • EUR/AUD broke support area
  • Next sell target - 1.5100

EUR/AUD recently broke the support area lying between the support level 1.5350 (low of the previous intermediate impulse wave (1)), support trendline of the daily up channel from September and the 61.8% Fibonacci correction of the previous sharp upward impulse from the start of November. The breakout of this support area accelerated the active impulse wave (3). EUR/AUD is expected to fall to the next sell target at the next support level 1.5100.



Morning brief for May 30

 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…

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