01.02.2016 - We are waiting for a strong movement of AUD/USD

The price of the Australian dollar has stabilized after the recent decline and is now consolidating above 0.7075. In case of breaking through this level, and the lower limit of the local rising channel, the fall of price will continue to 0.6840 and 0.6800. It is worth noting that now there is an opportunity to open long positions with a stop below 0.7050 and with the immediate target levels at 0.7180 and 0.7350. Tomorrow is expected the increase of volatility. Our medium-term forecast remains negative, but we do not exclude the continuation of growth in the near future.

AUD-USD Conversion

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