04.01.2015 - The Australian dollar according to our estimates will continue to fall

The price of the Australian dollar has shown a strong decline after was unable to gain a foothold above the level of 0.7300 and has broken the lower boundary of the local rising channel. Currently quotations broke through the important level of 0.7200 and is likely to reach a mark 0.7150, after which may continue to fall to 0.7080 and 0.7000. The upward correction is limited by the level of 0.7300. We maintain a medium-term negative outlook and recommend holding short positions with the target at 0.6800.

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