AUD/USD currency pair is moving in the C wave of the 6th order from 1.0343. Within it an impulse subwave A of the 5th order has been finished and a correction is being formed from 0.9663. The upside targets are calculated by Fibonacci correction grids 1.0106-0.9663, 1.0343-0.9663 and extension grids 0.9663-0.9785-0.9666.
Resistances:
- 0.9885 = correction 50%
- 0.9923 = 38.2%
- 0.9937 = 61.8%
- 0.9985 = extension 261.8%
- 1.0003 = correction 50%
In case the pair reverses to the downside the closest supports will be provided by the correction grid to the upside wave from 0.9663. This wave is not complete yet, therefore the supports are not available.
Trades trend - BUY.
Wave levels (annotation):
1st order (the lowest) – a dashed line;
2nd and 3rd order and higher – line width 1, 2, …, etc.
The same is applied to the Fibonacci grids.
