The Australian dollar got profits and reached the first weekly resistance 1.0450 due to the announcement of first quarter GDP of China. The data was below expectations.
Techically the Aussie is trading above the 50% of Fibonacci retracement and below 38.2%. The Australian dollar is expected to pullback towards the downtrend channel. At this level we recommend Buy-deals with medium-term objectives near the level 1.0673.
It is necessary to mention that the fractals formed on the daily chart the 1.0233 level was a strong support for the aussie; now the nearest is the fractal of 1.0515 and 1.0797.
The MACD indicator and range are showing bullish signals.
