In the aftermath of the Jackson Hole Symposium the common European currency has surged against most of its counterparts. The Australian Dollar is not an exception to the rule.
However, the EUR/AUD currency pair has a very unique mark, which was noticed by the Dukascopy analysts on Wednesday. A short term pattern was mapped, which represents the recent surge of the Euro against the Aussie.
In accordance with the pattern the currency exchange rate is set to surge back up to the 1.51 mark. To be precise, it could reach for the resistance cluster near the 1.5110 mark, where the weekly and monthly R1s are located at.