08.06.2015 - The Australian dollar reached the local minimum

The price of the Australian dollar has reached the support level at 0.7600, which coincides with the local minimum. At the moment, there is a possibility of rebound of quotations to the nearest resistance levels at 0.7700 and 0.7800. On the other hand, the penetration and fixation below 0.7600 will be the basis for further decline to 0.7550 with the targets and 0.7400. Our medium-term outlook remains negative and we recommend holding short positions.

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