18.08.2014 - The Australian dollar may fall sharply

The price of the Australian dollar after reaching 0.9330 corrected down and now is moving along the upper boundary of the descending channel. At the moment there is a high probability of price reduction within the channel. The reason for the fall may be the publication of minutes of the previous meeting of the Reserve Bank of Australia tomorrow. Stop should be set above 0.9330. We recommend to open short positions and maintain a medium-term negative outlook with the objectives of 0.9200 and 0.8900.

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