Sellers have driven the futures below an external low on the daily chart, implying that the Aussie dollar is headed for parity with the greenback. There is no impulse leg on the daily chart, however, since a proper point B does not yet exist. However, if whatever C-D follow-through leg awaits (see inset) breaches the still unformed midpoint support, it could portend slippage beneath the 1.00 threshold.
