EUR/AUD falling inside minor correction 2
By: Dmitriy Chernovolov
- EUR/AUD falling inside minor correction 2
- Next sell target - 1.4730
EUR/AUD continues to fall inside the minor correction 2 – which started earlier - when the price reversed down from the resistance zone lying between the resistance level 1.5200 (former support level from March, which reversed the previous A-wave, as can be seen below), the upper daily Bollinger Band and the 38.2% Fibonacci correction of the previous sharp intermediate ABC correction (2) from the middle of February.
EUR/AUD is likely to fall further in the active wave 2 toward the next sell target at the support level 1.4730 (which has been repeatedly reversing this currency pair from the start of last month). Strong resistance remains at 1.5200.