Yesterday the Australian dollar stopped its bullish rally at the level of daily 1.0388 fractal, as we have mentioned that below 1.04 there would be a strong resistance. Therefore, at the moment of quotation of the pair, we recommend you selling with short-term targets to the level of 1.0230. The technical indicators are showing overbought levels; it adds strength to our bearish outlook.
If you need personal consultation, contact me via e-mail: gerardo.porras@analytics.instaforex.com