14.08.2014 - The Australian dollar cannot overcome the resistance line
The price of the Australian dollar for the second time is trying to overcome an inclined resistance line. In case of success, and the price fixation above 0.9330, we recommend to open long positions with the target at 0.9440. At the same time there is a big possibility of resumption of downward movement with the closest targets at 0.9220 and 0.9200. In such case the stop should be set above 0.9340. Despite recent growth, we maintain a medium-term negative outlook with the target at 0.89.