14.04.2015 - We maintain a negative outlook on AUD/USD
The price of the Australian dollar is trying to rebound from a strong support level at 0.7550 and in case of success, can grow up to a sloping resistance line, breaking through which and the fixation above the local maximum at 0.7740 will be a signal for the opening of long positions with the upside potential to 0.7800 and 0,7900. On the other hand, quotations may continue to decline gradually, and after overcoming the support at 0.7550, will continue to fall to 0.7400 and 0.7300. Tomorrow is expected the increase of volatility in connection with the publication of important statistics on GDP and industry in China. We recommend holding short positions and maintain medium-term negative forecast.