The AUD/USD pair is developing the impulse wave C of the 5th order from the level 1.0231 with the forming sub-wave C of the 4th order that comes from the level 1.0427. This wave includes its own sub-waves - the wave A, B and C of the 2nd order coming from the level 1.0444. The nearest upper targets are calculated according to the expansion grids 1.0145-1.0377-1.0231, 1.0231-1.0573-1.0427, 1.0427-1.0540-1.0444, 1.0444-1.0619-1.0588.
Resistance levels:
- 1.0638 = 61.8% expansion
- 1.0696 = 61.8%
- 1.0740 = 261.8%
- 1.0763-69 = accumulation of levels - 100%
If the pair turns downwards to the correction then the nearest support levels for the upper wave will be provided by the correction grid from the level 1.0444. This wave is not completed so the support levels are not available.
Direction of deals: BUY-deals are recommended as long as the pair remains higher than the level 1.0444.
The 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.
