EUR/AUD reached sell target 1.4830
- EUR/AUD reached sell target 1.4830
- Next sell target - 1.4500
EUR/AUD continues to fall inside the minor impulse wave (iii) – which belongs to the longer-term downward impulse wave 3 from May. The price earlier reversed down from the resistance zone lying between the round resistance level 1.5000 and the 38.2% Fibonacci correction of the previous downward impulse from the middle of June. The downward reversal from this resistance zone accelerated the active impulse 3 – which then broke the support level 1.4830 (previous sell target).
EUR/AUD is likely to fall to the next sell target at the major support level 1.4500, which has been reversing the price sharply from last December.