The outlook is now clearly bearish on the pair and we expect a test of the parity soon.
As expected, the 1,02 level has offered a good support lately but we think it won’t last very long.
Over the immediate term, a break back above 1,03 (yesterday’s high) would expose a corrective move towards 1,05 (daily 20 moving average).
We continue to hold a bearish prospect on the Aussie over the middle term with market participants unwiding their exposure on risk assets.
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