06.07.2015 - The Australian dollar has reached the target level

The price of the Australian dollar showed a strong decline and reached the target level at 0.7500 and continues to consolidate near it. Volatility remains high and within the correction, quotations can return to the level of 0.7600, but according to our estimates more likely scenario will be fixation of price below the level of 0.7500, which will be a signal for the continuation of the downward movement with the target at 0.7200. Our medium-term outlook remains negative and we recommend holding short positions.

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