06.08.2015 - The fall of the Australian dollar will continue in the near future

The price of the Australian dollar continues to decline, after strong growth during which has reached the upper limit of the medium-term descending channel. As a result, quotations fell below the level of 0.7350 and with a high probability will continue to fall to a local minimum near 0.7250 in the near future. After that, we expect a further fall in prices to the target levels at 0.7200 and 0.7000. Our medium-term outlook remains negative and we recommend holding short positions.

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