14.09.2015 - Correction of the Australian dollar will probably be over soon
The price of the Australian dollar is growing after reaching 0.6900, and a failed attempt to fix lower than 0.7000. In the descending channel, quotations may reach the resistance level at 0.7200 and the upper limit of the downward channel. We see no reason to change the current downward trend to positive, but do not exclude further correction to 0.7400 above which we recommend installing a stop at the opening short positions. Our medium-term outlook also remains negative.