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Forex pairs in this Article » AUD/USD (Barcelona) - Following its antipodean counterpart, the AUDUSD has experienced a marked decline Friday, relative to other G10 pairs. The pair is operating at the lower end of its 80-pip spectrum today, trading near its session low at 1.0410. In these moments the cross is suffering a contraction of -0.58% on the day, placing it at 1.0422/24.

"We are observing a decline from 1.0584, which is still in three waves, so we don't know for sure if move is corrective, or if current three-wave fall will transform in to a five-wave movement. However, we like the idea of an impulsive weakness and reason is channel break that caused an extension lower, but in such case we need to see 1.0400 levels in the next few sessions." notes the Gregor Horvat, an analyst at Elliot Wave Forecast. analysts point to supportive means at 1.0418, after breaking through calculated measures at 1.0456 and 1.0439. Conversely, the AUDUSD will face resistances at 1.0494, onto 1.0515, and ultimately 1.0532.
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