EUR/AUD falling inside minor impulse wave
- EUR/AUD falling inside minor impulse wave
- Next sell target - 1.4600
EUR/AUD continues to fall inside the minor impulse wave (iii) – which started earlier – when the pair reversed down from the resistance zone lying between the resistance level 1.4900 (which reversed the previous minor correction (ii) in August), the upper daily Bollinger Band and the 38.2% Fibonacci correction of the previous sharp downward impulse from the middle of May.
The active impulse wave (iii) belongs to the sharp C-wave from May. EUR/AUD is expected to fall down further to the next sell target at the support level 1.4600. Strong resistance remains at 1.4900.