EURAUD is making a higher degree wave (A)-(B)-(C) corrective rally after potentially completing the leading diagonal at 1.43 area in summer 2022. Notice that recovery in wave (A) was impulsive, so more gains will be expected after the current wave (B) set-back which is still in progress as a complex correction, ideally A-B-C irregular/expanded flat. Support for a potential irregular correction is around 1.52 – 1.50, where bears may slow down and put bulls back in play for a wave (C) bounce.
