AUD/USD is flat and moving within 1.038 – 1.016. On chart with a 20-pips step it is evident that today after the opening of the market the downward movement has begun, supposedly in the second corrective wave.
If the wave is not to overcome the main upward trend 1.024 and continue upward movement then having overcome the resistance level of 1.036, the third impulse wave will go upwards and it will be possible to buy.
In case the trend line 1.024 and 1.016 support levels are passed, the third impulse wave will go downwards. After that it is better not to sell the pair as the main trend is remaining upward and the third wave can be shortened.
