EUR/AUD rising inside minor ABC correction 2

EUR/AUD rising inside minor ABC correction 2

  • EUR/AUD rising inside minor ABC correction 2
  • Next buy target - 1.5000

EUR/AUD continues to rise inside the c-wave of the minor ABC correction 2 which started earlier from the powerful support zone lying between the support level 1.4450 (which reversed the previous minor correction (iv) with the daily Morning Star in May, as can be seen below), lower daily Bollinger Band and the 50% Fibonacci correction of the previous primary ABC correction ② from February. EUR/AUD is expected to rise further to the next buy target at the next resistance level 1.5000.



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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