EUR/AUD: buy target - 1.5300
By: Dmitriy Chernovolov
- EUR/AUD reached buy target 1.5000
- Next buy target - 1.5300
EUR/AUD continues to rise after the price earlier broke sharply above the round resistance level 1.5000, which was set as the buy target in our previous forecast for this currency pair. The breakout of this resistance level accelerated the active impulse wave 3 – which belongs to the intermediate (C)-wave from the end of June (which is a part of the primary ABC correction ② from April).
EUR/AUD is likely to rise further inside the accelerated impulse wave 3 toward the next buy target 1.5300 (target price for the completion of (C)-wave, intersecting with the resistance trendline of the daily up channel from April).