AUD/USD currency pair has ended the 3-wave figure ABC of the 5th order. At the moment a new A wave of the 5th order is being formed from 1.0386, we observe 5 waves of the 2nd order in it that combined into a single A wave of the 3rd order. A correction B wave is being formed from 1.0145. It has A and B subwaves of the 1st order, C is coming from 1.0193.
At the moment the closest upside targets are calculated by Fibonacci correction grids 1.0386-1.0145 and extension grids 1.0145-1.0244-1.0193.
Resistance levels:
- 1.0334 = correction 78.6%
- 1.0353 = extension 161.8%
In case the pair reverses in the nearest time will be provided by the correction grid to the upside wave from 1.0145 – the wave is not completed, therefore the support levels are unavailable.
Trades trend – SELL up to the break of 1.0386 to the upside.
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.
