24.04.2014 - Australian dollar won back some of yesterday's losses
The price of the Australian dollar has corrected upwards after the sharp reduction of price yesterday. The reason for the fall was the publication of data on decrease in inflation in the first quarter of 2014 to 0.6%, which is 0.2% worse than forecast and the previous figure.
Now the price of the pair is trying to fix below the strong the level of 0.9300. In case of success, we expect continued downward movement with the targets near 0.9250 and 0.9200. The growth is limited by the resistance level at 0.9330 and 0.9400. We expect a continuation of a downward price movement of the Australian currency.