The Australian dollar shows a bearish signal on the daily charts. Recently we had noticed that this pair should fall, believe that the decline is not over as the Aussie should stop performing in support of daily fractal 1.03. In view that now the pair is below the 1.0445 fractal it increases the likelihood that the downward movement occurs. On Friday there will be fundamental data, it is likely that the pair pulls back to resistance level. If this happens we can sell at 1.0470 level. On the other hand, we can also sell at any price below the long-term channel, yellow path, with targets at 1.03.
If you need personal consultation, contact me via e-mail: gerardo.porras@analytics.instaforex.com
