At first this week, Steve Lucas' weekly signals pointed towards a rally in the Aussie, but as he explains this has now stalled, one of the reasons he plans to sell the currency.

He also adds that yesterday saw an end to higher daily lows and that Aussie crosses, in particular the Aussie Kiwi, remain under pressure.

As a result, Steve plans to sell at 89.45, to place a stop at 89.80 and his targets are 88.65 and 88.42.

The Aussie fell after upbeat retail sales data halted a slide in US yields to help the US dollar recover from a one-month low touched on Monday.

There has been little conviction to push the Aussie higher despite a 14 percent drop in 2013 as the country's central bank has maintained an easing bias and encouraged a weaker currency to boost the economy.