Should that happen, we will be focusing on EURAUD for a potential long opportunity.
Price has recently bounced strongly after hitting the target at 1.4478, giving us the expectation that we can now expect one more wave ( 5-wave ) up towards 1.5032 - 1.5409 region.
Combining with the potential of a year end tapering from ECB, we are currently holding on to a bias on the EUR.
What would be a better opportunity combining the fundamental forces of EUR and AUD, if RBA were to adopt a dovish tone this week.
*Disclaimer - these are all just my personal observation and perspective of the market. Make sure you do your own due diligence before taking any trades.