Elliott Wave Analysis: EUR/AUD Could Be In For More Weakness

EUR/AUD is trading in a five wave sequence to the downside and currently we see price turning up, probably for the fourth wave correction. First sub-wave A) is almost done so we have two more waves to go to complete this blue wave 4. The ideal resistance level is around the 1.4409/20 area, from where a probable drop into wave 5 with a target of 1.3950/80 region may happen.

EUR/AUD, 4H

EUR/AUD 4 Hour Chart

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