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.

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