07.04.2014 - The Australian dollar in the side trend
The price of The Australian dollar rose amid a weakening of the U.S. dollar, after the release of data on the U.S. labor market. As a result the quotes of the pair reached a strong resistance level at 0.9300, but failed to gain a foothold above it. We recommend to open short positions on the Australian dollar with the first goal near the lower boundary of the corridor 0,9215-0,9300. In case of resumption of growth, a signal to buy will become price fixing above 0.9300.
We expect the price decline of the Australian dollar in the near future.