This morning the Australian dollar receded, after it had won positions on Monday and part of Tuesday. It fell back these times, because the Consumer Confidence Index, which showed a significant drop. This data was the trigger for a new decline of the Aussie. Now, looking at the lines of fractals, this pair is in a new fractal formed at 0.9753. Given that this pair has consolidated at this level, we recommend buying if the price of the Aussie closes 4-hour charts above this level with targets at 0.9919. On the other hand, if the pair closes below 0.9725, the fall may continue until the next fractal 0.9590. In addition Momentum Indicator is showing signs of a new upward sequence, so we must wait for the breakdown of the MACD line to the bullish signal is verified.
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