The AUD/USD pair is forming a potential impulse wave C of the 4th order of the declining trend from 1.0600. It includes the sub-waves A of the 3rd order, and starting from 1.0315 a sub-wave B is developing.
For the confirmation of 4th order C wave, breaking through the high A 0.9928 is needed. Meanwhile, the nearest support will be calculated by the correction grid 0.9928-1.0600 and expansion 1.1079-0.9928-1.0600, 1.0600-1.0315-1.0479.
The closest support:
- 1.0303 = expansion 61.8%
- 1.0264 = correction 50%
- 1.0194-85 = accumulation – expansion 100% and correction 61.8%
If the upmove resumes, the nearest resistance will be made by the correction grid 1.1079-0.9928 and expansion 0.9928-1.0600-1.0315, 1.0315-1.0479-1.0363.
Resistance:
- 1.0464 = expansion 61.8%
- 1.0527 = 100%
- 1.0628 = 161.8%
- 1.0639 = correction 61.8%
- 1.0730 = expansion 61.8%
- 1.0792 = expansion 261.8%
Direction of orders - SELL.
Wave levels (marking):
1st order 9 (junior) – with a dashed line
2nd and 3rd orders and upper – the width of the line is 1, 2 and etc.
The same is true for the Fibonacci grid.
