EUR/AUD rising inside impulse waves (iii), 3 and (3)

EUR/AUD rising inside impulse waves (iii), 3 and (3)

  • EUR/AUD rising inside minor impulse wave (iii)
  • Next buy target - 1.5800

EUR/AUD continues to rise inside the minor impulse wave (iii) – which started earlier from the support area lying between the key support level 1.5470 and the upper trendline of the recently broken daily up channel from July (acting as support after it was broken previously). The active minor impulse wave 3 belongs to the intermediate upward impulse wave (3) from September. EUR/AUD is expected to rise toward the next buy target at the next resistance level 1.5800 (target price for the completion of the active impulse wave (iii)).



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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