14.08.2015 - The Australian dollar will likely begin to decline

The price of the Australian dollar has reached the upper limit of the medium-term descending channel and approached to the level of 0.7400. In case of breaking through these levels, we expect continued growth to 0.7500. Fixing of price above this mark will be the basis for opening long positions with the upside potential to 0.7700 and 0.7900. At the moment, there is a possibility of opening short positions with a stop above 0.7450 and target levels at 0.7260, 0.7200 and 0.7200. Our medium-term outlook remains negative.

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