AUD/USD is forming an impulse wave C of the 4th order in an upturning midterm trend from 1.0315. Inside it there is also an impulse C from 1.0418 – the wave of the 3rd order development. The aims above are now calculated by the correction grids 1.1079-0.9928 and the expansions 0.9928-1.0600-1.0315, 1.0315-1.0533-1.0418, 1.0418-1.0517-1.0463 and 1.0463-1.0590-1.0548.
Resistance:
- 1.0623-26 = accumulation of levels – expansion 161.8% and 61.8%
- 1.0636-39 = accumulation of levels – expansion 100% and correction 61.8%
- 1.0675 = expansion 100%
- 1.0722 = expansion 261.8%
- 1.0730 = expansion 61.8%
For the targets below we can use the correction grid for the wave upwards from 1.0418 – the wave has not finished yet so the support is not available.
The direction of the trades - BUY.
Wave levels (marking):
1st order (the lowest) – dashed line
2nd and 3rd order and higher – the width of the line 1, 2 etc.
The same is applied for the Fibo grids.
