The AUD/USD pair is forming the impulse wave C of the 5th order from the level 1.0231. This wave includes the developing impulse sub-wave C of the 4th order coming from the point 1.0427 with the correction B of the 3rd order from 1. 0687.
The nearest upside targets are calculated according to the expansion grids 1.0145-1.0377-1.0231, 1.0231-1.0573-1.0427, 1.0427-1.0687-1.0591.
Resistance levels:
- 1.0752 = 61.8% expansion
- 1.0769 = 100%
- 1.0838 = 261.8%
- 1.0851 = 100%
If the pair turns downwards to the correction then the nearest supports will be provided by the correction grid 1.0427-1.0687.
Support levels:
- 1.0688 = 38.2%
- 1.0557 = 50%
- 1.0526 = 61.8%
Direction of deals: BUY-deals are recommended as long as the pair keeps the position higher than 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.
