EUR\/AUD – 3rd wave continues

Forex Strategy is Bullish: We are currently @ 1.7619 in a channel. If we can break resistance here, we are looking for a continuation to the ATR target @ 1.7700 area which would continue a 3rd wave. A further target is the 1.000 Fibo @ 1.7758. USDX is currently up. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 164 pips per day and it’s 90-day average is 161 pips per day.

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