29.01.2015 - The Australian dollar has accelerated the fall after correction

The price of the Australian dollar continues to decline against the US dollar. The fall accelerated after the correction to the level of 0.8000. Quotes were unable to consolidate above this psychologically strong level and renewed fall within which the local level have been able to break through the support at 0.7860. Fixing the price below this mark is the basis for the continuation of the downward movement. At the moment, quotes reached the inclined support line and may continue to decline along this line. We recommend holding short positions with the first target at 0.7500 and stop above 0.8085. The medium-term view also remains negative.

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