Aussie is bearish since start of the year, with a higher degree A-B-C decline that can be coming into some important support at the 78.6% Fib level shown on daily chart. In fact, notice that drop from summer highs can be already counted in five waves, a bearish trend that can be finished after recent turn-up, above the upper line of an ending diagonal. We also see a sharp rise to 0.6550 area as expected, which can be an impulse, so be aware of further strength after any near-term setback. There are also some hawkish expectations from the RBA this week, which can cause more gains for the pair, especially now when stocks are also in risk-on mode.
