EUR/AUD broke resistance zone
- EUR/AUD broke resistance zone
- Next buy target - 1.5120
EUR/AUD continues to rise sharply- following the earlier breakout of the resistance zone lying between the resistance level 1.4900 (which reversed earlier waves (ii) and a, as can be seen below) and the 23.6% Fibonacci retracement of the previous extended downward price move from February. The breakout of this resistance zone accelerated the active minor correction (ii) – which belongs to the intermediate C-wave from May.
EUR/AUD is expected to rise further toward the next buy target at the resistance level 1.5120 (coinciding with the 38.2% Fibonacci correction level of the aforementioned downward price move from February).