EUR/AUD reversed from resistance zone

EUR/AUD reversed from resistance zone

  • EUR/AUD reversed from resistance zone
  • Next sell target - 1.5600

EUR/AUD recently reversed down from the resistance zone lying between the strong resistance level 1.5760 (high of the previous sharp minor impulse wave 3 from November) and the upper daily Bollinger Band. The downward reversal from this resistance zone stopped the previous sharp intermediate impulse wave (C). Given the strength of the resistance level 1.5760, EUR/AUD is expected to fall down further to the next sell target at the support level 1.5600.

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