AUD/USD is forming a potential impulse wave C of the 4th order of a lowering midterm trend from 1.0600. To confirm this wave a puncture of the peak of A-wave at 0.9928 will be needed. In the body of the 4th order wave there starts a potential impulse wave C of the 3rd order from 1.0533.
The targets below are now calculated by the correction grid 0.9928-1.0600 and expansions 1.1079-0.9928-1.0600, 1.0600-1.0315-1.0533, 1.0533-1.0448-1.0521.
Nearest Support:
- 1.0383 = expansion 161.8%
- 1.0357 = expansion 61.8%
- 1.0298 = expansion 261.8%
- 1.0264 = correction 50%
- 1.0248 = expansion 100%
- 1.0185 = correction 61.8%
If an upmove renews the closest resistance levels will be the grids of corrections 1.1079-0.9928 and expansions 0.9928-1.0600-1.0315.
Resistances:
- 1.0639 = correction 61.8%
- 1.0730 = expansion 61.8%
Operations direction - SELL.
Wave Levels (marking):
1st order (the lowest) – dashed line
2nd and 3rd order and higher – the width of the line 1, 2 etc.
The same is applied for the Fibo grids.