The AUD/USD pair has finished three waves of the 4th order to 1.0423. Presently the upside correction is developing that includes subwaves A and B of the 1st order.
The downside targets are calculated according to the expansion grids 1.0856-1.0506-1.0669, 1.0669-1.0423-1.0554.
Nearest supports:
- 1.0402 = 61.8% expansion
- 1.0322 = 100%
- 1.0308 = 100%
If the pair continues the upside movement, the nearest resistances will be provided by the correction grids 1.0856-1.0423, 1.0669-1.0423 and expansion grids 1.0423-1.0554-1.0509.
Resistances:
- 1.0575 = 61.8%
- 1.0588-90 = accumulation of levels - 38.2% and expansion 61.8%
- 1.0640 = accumulation of levels - 50% and expansion 100%
- 1.0691 = 61.8%
- 1.0721 = expansion 161.8%
Direction of deals: SELL-deals are recommended as long as the pair is lower than 1.0554.
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.
