The bad news has been incorporated by investors and potential rebound increases.

Australian central bank has kept its minimum bid rate to 3.5%. Moreover, the economy has increased by 0.6% in the second quarter, against 0.8% expected. The slowdown in the Chinese economy has severely impacted the island-continent, special trade partner of the second world economy. Consequently, the AUD fell below USD 1.02.

While the currency has lost 4% of its value since the beginning of August, the opportunities to purchase progressively emerged. The proximity of the parity technical threshold should help to contain any downward movements. Finally, the macroeconomic indicators could benefit from summer decline of the local currency.

Graphically, the Aussie has redraw significantly since reaching 1.06 this summer from annual low point at USD 0.9580. According to the Fibonacci ratios, price could continue to decline until 1.01, a retracement of 50% of the last bullish movement, before a rebound toward USD 1.0419 USD, our first objective.