28.07.2014 - The Australian dollar may slow the decline, but it is likely to continue to fall

The price of the Australian dollar within the sharp decline has broken through the level of 0.9400 and is trying to gain a foothold below it. At the moment, there is a possibility of a technical rebound upwards but we predict that the price will continue to decline with the target at 0.9330. The price movement this week will depend on the labor market data and GDP growth in the U.S., as well as the Fed's statement on Wednesday. We recommend holding short positions and maintain a medium-term negative outlook with the objectives of 0.9220 and 0.8900.

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