• EUR/AUD rising inside impulse wave 3
• Further gains are likely
EUR/AUD continues to rise inside the short-term impulse wave 3 – which recently broke through the key resistance level 1.5870 (which has been steadily reversing the price from the middle of May).
The breakout of this resistance level accelerated the active medium-term impulse wave (C) which belongs to the long-term impulse sequence from last year.
EUR/AUD is expected to rise further and retest the next resistance level 1.6130 (target price for the completion of the active impulse wave 3).