AUD TREND
In my analysis, wave 1 began from 2001-4-2 to 2008-7-14.wave 3 began from 2008-10-27 to2011-7-25. Wave 2 is between wave 1 and wave 3. Wave 2 had fallen below 38.2% of wave 1. According alternation principle, I think wave 4 have completed its goal. Wave 4 has reached between 61.8% and 50% of wave 3. I deem wave 5 began at 2014-1-20 . According wave theory, wave 5 must be higher than top of wave 1 (0.9849). In the present situation, wave 5 is very likely to be a failed wave. It means that wave 5 will not reach the top of wave 3. It is now in wave (iv) stage of wave(1) of wave 5. In consideration of daily support at 0.9208-0.9255, I think Wave (iv) of wave(1) of wave 5 have reached its goal. Otherwise wave(iv) will fall to 0.9000-0.9050. It means that wave 5 is not a impulse wave. I conclude that AUD will fluctuate between 0.9200 and 0.9400.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.