23.09.2014 - The Australian dollar was unable to change the negative trend

The price of the Australian dollar continues to fall gradually. Today's rebound from the level of 0.8850 was caused by positive data from China, but despite this quotation will continue to be under the pressure of weak macro and low export prices. Currently quotations are falling along the top edge of the descending channel and according to our estimates soon will reach the level of 0.88. We maintain a medium-term negative outlook and recommend holding short positions with a stop above 0.90.

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