FBS - Analytics

    FBS

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    EUR/AUD reached sell target 1.4830

    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.

     


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