The AUD/USD is trading in the narrow flat 1.0354-1.0449. According to the wave marking from the level 1.0354 the impulse sub-wave C of the 3rd order started its movement. This wave is included in the impulse wave C of the 4th order coming from the level 1.0231.
In case the flat is passed through by the uprising motion, the impulse coming from 1.0354 will be confirmed. Therefore, the upper targets will provide expansion grids:
1.0145-1.0377-1.0231 (А and В of the 4th order), 1.0231-1.0449-1.0354 (А and В of the 3rd order), 1.0354-1.0436-1.0370 (А and В of the 2nd order).
Resistance levels:
- 1.0452 = 100% expansion
- 1.0463 = 100% expansion
- 1.0489 = 61.8%
- 1.0503 = 161.8% expansion
- 1.0572 = 100%
If the exit from the flat is of downward character, the nearest resistance levels will be calculated according to the correction grids 1.0231-1.0449, 1.0145-1.0449 and according to the expansion grid 1.0449-1.0354-1.0436.
Support levels:
- 1.0341-40 = accumulation of levels - 100% и 50% expansion
- 1.0333 = 38.2%
- 1.0314 = 61.8%
- 1.0297 = 50%
- 1.0282 = 161.8% expansion
- 1.0261 = 61.8%
Direction of deals: BUY-deals are recommended as long as the pair keeps the position higher than 1.0354 which is the basis for the prospective wave C of the 3rd order.
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.
