EUR/AUD reversed from support zone
Next buy target - 1.4470
EUR/AUD continues to rise after the recent sharp upward reversal from the support zone lying between the powerful support level 1.4130 (which reversed the price multiple times from October, as can be seen below) and the lower daily Bollinger Band. The upward reversal from this support zone stopped the earlier minor impulse wave 3, which belongs to the intermediate impulse wave (C) from May.
EUR/AUD is expected to rise further to the next buy target at the resistance level 1.4470 (top of the previous waves (a) and (ii)) - which stands close to the 38.2% Fibonacci correction of the previous sharp downward impulse from September.
Next buy target - 1.4470
EUR/AUD continues to rise after the recent sharp upward reversal from the support zone lying between the powerful support level 1.4130 (which reversed the price multiple times from October, as can be seen below) and the lower daily Bollinger Band. The upward reversal from this support zone stopped the earlier minor impulse wave 3, which belongs to the intermediate impulse wave (C) from May.
EUR/AUD is expected to rise further to the next buy target at the resistance level 1.4470 (top of the previous waves (a) and (ii)) - which stands close to the 38.2% Fibonacci correction of the previous sharp downward impulse from September.
