The AUD/USD is presently developing the wave C of the 3rd order from 1.0817 with completed subwaves A and B of the 2nd order. The wave C is coming from the point 1.0690. the downside targets are provided by expansion grids 1.0856-1.0715-1.0817, 1.0817-1.0655-1.0690.
Nearest support levels:
- 1.0590-89 = accumulation of levels - expansion 61.8% and 161.8%
- 1.0528 = 100%
If the pair continues the upward movement, the nearest resistance levels will be provided by the correction grids 1.0856-1.0604.
Direction of deals: SELL-deals are recommended, as long as the pair remains lower than 1.0690.
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.
