EUR/AUD rising inside minor impulse wave (iii)

EUR/AUD rising inside minor impulse wave (iii)

  • EUR/AUD rising inside minor impulse wave (iii)
  • Next buy target - 1.5380

EUR/AUD has been rising in the last few trading sessions inside the minor impulse wave (iii) which started from the support zone lying between the key support level 1.5100 the 61.8% Fibonacci correction of the previous sharp upward impulse from the middle of October. The active impulse wave (iii) belongs to the intermediate impulse wave (3) from September. EUR/AUD is expected to rise further to the next buy target at the next resistance level 1.5380 (top of impulse (i)).



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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