The AUD/USD pair is forming the wave C of the 4th order from 1.0669 comprising the subwave A of the 3rd order; the subwave B is developing from the point 1.0473.
The downside targets are provided by the expansion grid 1.0856-1.0509-1.0669.
Nearest support levels:
- 1.0455 = 61.8%
- 1.0322 = 100%
If the pair continues the upside movement, the nearest resistances will be provided by correction grids 1.0856-1.0473, 1.0669-1.0473.
Resistances:
- 1.0571 = 50%
- 1.0594 = 61.8%
- 1.0619 = 38.2%
- 1.0664 = 50%
- 1.0710 = 61.8%
Direction of deals: Sell-deals are recommended as long as the pair remains lower than 1.0625.
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.
