EUR/AUD:
Has hit its first wave 5 target at 1.5355, where wave 5 was 38.2% of the distance traveled from the bottom of wave 1 (1.1605) to the top of wave 3 (1.5030) added to the bottom of wave 4 (1.4051). As long as the steep uptrend channel stays intact we could see a move higher towards the next possible target where 5 will be 50% of the distance of wave 1 through wave 3 at 1.5764.
Short term only a break below 1.5312 will indicate that wave 5 could have finished, while a break below 1.5006 is needed to confirm the top.
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