The AUD/USD pair with a breakout at the level of 1.0386 turned into an upward trend forming a new impulse wave of the 4th order from 1.0231. It includes the sub-waves A, B and C of the 2nd order, the wave C goes from 1.0367. Also the wave C of the 2nd order includes the sub-waves A, B and C of the 1st order, the wave C goes from 1.0302.
The nearest targets for the upmoving trend will be calculated according to Fibonacci expansion grids 1.0044-1.0386-1.0145, 1.0145-1.0377-1.0231 (A and B of the 4th order), 1.0231-1.0333-1.0254 (A and B of the 2nd order), 1.0254-1.0337-1.0302 (A and B of the 1st order).
The closest resistance levels:
- 1.0419 = 161.8% expansion
- 1.0436 = 161.8%
- 1.0463 = 100% expansion
In the course of this ascending motion the nearest support levels will be available only when the wave from 1.0302 ends, but as it still continues the movement, support levels cannot be calculated by far.
The direction of BUY-deals down to 1.0302.
Wave levels (marking):
1st order (the lowest) – dotted line
2nd, 3rd order and higher – line weight 1, 2 etc.
The same is for Fibonacci grids.
