The AUD/USD pair finished forming the 3-wave movement at 1.038 where it started the 4th corrective wave that ended at 1.016.
At the moment we observe growth of the pair in the 5th impulse wave with a target to overcome the resistance level 1.038.
In case buyers manage to pass the resistance at 1.038 the upside movement will be continued up to 1.042-1.044.
The RSI is at 47% and directed down, which denotes bearish pressure within the correction.
It is recommended to buy the pair after the 1.038 level is passed.
