Tuesday, 3 April 2012

AUDUSD, Tuesday April 2

Definitively a jittery FX market today.

AUDUSD monthly chart below still needs to complete wave 5 (in turquoise). I suggest 2 possible targets at 1.1060 and 1.1250, both having the same probabilities .

The weekly chart below shows that we've already completed 4 waves up within the major wave 5. We are now touching the bottom of the channel, waiting for the pull back up to unfold wave 5.5

The daily chart below the completion of wave 5.4 and the start of the new trend up that will complete the set of 5 waves

The 4hour chart below shows a target of 1.04780-1.05120 provided that we cross the resistance at 1.04400.

Finally, the 1hour chart below shows targets at 1.04860 and 1.05290. We'll see.