AUD/USD has ended the 3-wave figure ABC of the 5th order. The movement from 1.0386 to 1.0145 may become a correction if the price rises higher than 1.0386. At the moment an impulse C-wave of the 3rd order is being formed from 1.0262.
Presently, the nearest resistance level is calculated according to expansion grids 1.0145-1.0351-1.0262, 1.0262-1.0377-1.0289.
Resistance:
- 1.0389 = expansion 61.8%
- 1.0404 = expansion 100%
- 1.0468 = 100%
- 1.0475 = 161.8%
If the currency pair reverses then the support will be provided by correction grids 1.0145-1.0377 as well as expansion grids 1.0386-1.0145-1.0377.
Support:
- 1.0288 = 38.2%
- 1.0261 = 50%
- 1.0234 = 61.8%
- 1.0228 = expansion 61.8%
- 1.0136 = 100%
Direction of SELL-deals up to 1.0386.
Wave levels (marking):
1st order (the lowest) – dotted line
2nd, 3rd order and higher – line weight 1,2 etc.
The same is true for Fibonacci grids.
