29.02.2016 - We expect the fall of the Australian dollar

The price of the Australian dollar after another attempt to break through the upper boundary of the triangle at 0.7240, started to decrease and broke through the level of 0.7180 and the lower boundary of the triangle. Fixation below these levels is a confirmation of the signal to sell and as a result we expect a further price reduction to the target levels at 0.7000, 0.6840 and 0.6800. In case of opening short positions the stop should be set above the level of 0.7250. Our medium-term outlook remains negative.

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