17.03.2015 - ​The Australian dollar continues to fall within the local trend

The price of the Australian dollar showed a slight increase in volatility after the publication of minutes of the previous meeting of the Reserve Bank of Australia. To change the local downtrend, the price must break through the inclined resistance line and gain a foothold above 0.7700. In this case, quotes will continue to rise to 0.7840 and 0.7900. According to our estimates fall in prices will continue in the medium term with the first target at 0.7500. We recommend holding short positions with a stop above 0.7900 and the objectives on 0.7200 and 0.7000.

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