24.04.2015 - The Australian dollar keeps consolidate and then may show a strong price movement
The price of AUD/USD rebounded from a sloping support line and currently consolidates below 0.7800. In case of breaking this resistance level, we expect continued upward movement with the first targets at 0.7900 and 0.8000. According to our forecasts, the more likely is the resumption of the downward movement, but for this, it is necessary for the quotes to fix below 0.7700 and break through the sloping support line. We expect the resumption of the downward price movement and maintain the medium-term negative outlook with objectives on 0,7500-0,7550.