EUR/AUD falling inside minor impulse
- EUR/AUD falling inside minor impulse
- Next sell target -1.4450
EUR/AUD continues to fall inside the minor impulse wave 3 – which started previously – when the pair reversed down from the resistance zone lying between the resistance level 1.5100, upper daily Bollinger Band and the 50% Fibonacci correction of the previous sharp downward impulse from May. The active impulse wave 3 belongs to the intermediate impulse wave (C) – increasing the probability of further losses for this currency pair.
EUR/AUD is expected to fall further toward the next strong support level 1.4450 (which reversed the previous sharp downward waves (A) and 1 in April and August respectively). The pair is likely to correct up after reaching the support level 1.4450.