26.06.2015 - We expect a decline in AUD/USD to 0.7600
The price of the Australian dollar continued to fall within the local downtrend channel after an unsuccessful attempt of overcoming its upper limit. In case of resumption the growth, quotations may reach the levels of 0.7800 and 0.7840. The breaking of the local support at 0.7700 has become the basis for the continuation of the downward movement of the price to the nearest target of 0.7600. Our medium-term outlook remains negative and we recommend holding short positions with the targets near 0.7500.