EUR/AUD: buy target - 1.5800
By: Dmitriy Chernovolov
- EUR/AUD reached buy targets 1.5200 and 1.5400
- Next buy target - 1.5800
EUR/AUD recently rose sharply – breaking through the resistance levels 1.5200 and 1.5400 – both of which were set as the buy targets in our previous forecast for this currency pair. The breakout of these resistance levels accelerated the active minor impulse wave 3 (of the intermediate impulse wave (C) from the start of December) – which started earlier, when the pair reversed up with the daily Morning Star from the support zone surrounding the support level 1.4900.
EUR/AUD is likely to rise further from the current levels toward the next buy target at the resistance level 1.5800 , which reversed the price earlier this month and also in October, as you can see below.