Euro/Aussie dollar (EUR/AUD) currency pair has a very interesting wave pattern for a short-term direction. We have seen a nice and deep pullback to 1.4690 region with three waves, which looks like a correction, especially because of overlaps. Notice that reaction after that was very strong to the upside. It looks like an impulse that will take price even higher this week; above 1.4890 high. As such, current retrace can be temporary wave 2 that may seek for a support around 1.4780-1.4800 area.


EUR/AUD, 1-hour