05.02.2015 - The price of the Australian dollar is trying to change the current trend

The price of AUD/USD corrected down and has fixed beyond the local descending channel. In case of further the growth, fixing the price above the local maximum at 0.7860, will become the confirmation of the signal for opening long positions, with the upside potential to 0.8000 and 0.8260. Tomorrow is expected the increase in connection with the statement of the Reserve Bank of Australia. Despite the current growth, we expect the resumption of downward momentum in the near future and recommend holding short positions with a stop above 0.8000 and target at 0.7500. The medium-term outlook also remains negative.

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