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, we observe the A subwave of the 3rd order in it, the B is coming from 1.0145. It has A and B subwaves of the 1st order, potential C is coming from 1.0262.
At the moment the closest upside targets are provided by correction grids 1.0145-1.0351 and extension grids 1.0386-1.0145-1.0351, 1.0351-1.0262-1.0316.
Closest supports:
- 1.0261 = extension 61.8%
- 1.0248 = correction 50%
- 1.0227-24 = level gathering - extension 100% and correction 61.8%
- 1.0202 = extension 61.8%
- 1.0172 = extension 61.8%
In case the pair reverses to the upside and breaks 1.0351, the closest resistances will be calculated by correction grid 1.0145-1.0351-1.0262.
Resistance levels:
- 1.0389 = extension 61.8%
- 1.0468 = 100%
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.
