22.01.2015 - The Australian dollar started to correct after a sharp fall

The price of the Australian dollar after a sharp decline against the backdrop of lowering interest rates by the Bank of Canada by 0.25% to 0.75%, almost reached the level of support at 0.8040. At the moment the quotations are growing within the corridor 0,8040-0,8250. In the near future, the price of the Australian currency according to our estimates will reach 0.8150, and then can continue to rise to 0.8250. Increase in volatility is expected today after the press conference, of Mario Draghi and tomorrow after the publication of data on manufacturing PMI in China. Our medium-term outlook remains negative with the objectives near 0.7500.

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