The interest rate cut from the RBA will be released in recent days as the data on the slowdown in the Australian economy that coinsides with a significant drop in an ounce of gold. All these data show a gloomy future for the aussie.
Technically the figures show targets on the daily chart located near 1.00 and 0.9985 levels.
According to the daily fractal table we can see an important fractal 1.0240 locate closely below this level. This fact increases the probability of a fall to parity against the dollar. Therefore, we recommend selling just below the 1.0200 level with targets seen at 0.9985 level of U.S. dollars per Australian dollar.
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