06.11.2014 - The Australian dollar is consolidating after a sharp fall
The price of the Australian dollar continued to decline after it failed to overcome the upper limit of local downward channel. Currently quotations reached the bottom of the channel and are consolidating above the level of 0.8600. Growth is limited by the strong resistance level at 0.8660 and the upper boundary of the channel. We recommend holding short positions on the Australian currency with a stop above 0.8750 and objectives near 0.8500 and 0.8100.