EUR/AUD reversed from resistance level 1.4900
- EUR/AUD reversed from resistance level 1.4900
- Next sell target - 1.4500
EUR/AUD continues to fall strongly inside the minor impulse wave (iii) – which began earlier - when the pair reversed down from the resistance zone lying between the upper daily Bollinger Band and the resistance level 1.4900. The active minor impulse wave (iii) belongs to impulse 3 of the intermediate downward impulse wave (3) form the middle of February.
EUR/AUD is expected to fall further in the active impulse waves (iii), 3 and (3) toward the next sell target at the pivotal support level 1.4500 (which reversed earlier impulse waves (iii), 1 and (i) in May, April and June, as can be seen below).