The Australian Dollar is in downtrend as we can see on the chart, but we cannot observe the strength that characterizes it even under continuous bearish pressure.
On the chart we can see that the Aussie has two resistance levels to overcome for the further ascending movement - the level 1.0339 (PPV) and Fractal 1.0359.
Therefore, we recommend buying above 1.0359 Fractal corresponding to 50% of Fibonacci retracement (0.9390 - 1.0849) with medium-term objective to 1.0561.
The MACD indicator indicates the upside potential.
Gerardo Porras is taking part in the "Analyst of the Year" award organized by MT5.com portal. If you like his article, please vote for him.
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