17.04.2015 - The growth of the Australian dollar may be short-term
The price of the Australian dollar corrected down after reaching the mark of 0.7800, but then resumed growth and in the near future is likely to reach the level of 0.7900. The reason for the growth was the positive news on reduced unemployment to 6.1%, vs. expected 6.3%. Despite the current upward movement, we are skeptical about the likelihood of change and overcoming downtrend the level of 0.8000. Our medium-term outlook remains negative and we recommend to wait for a signal to open short positions.