10.11.2014 - The Australian dollar may soon show the positive dynamics
The price of the Australian dollar after rebounded from the level of 0.8550 increased to the upper limit of the local downward channel and has broken through it. At the moment the price is trying to gain a foothold above the important level of 0.8665. In case of success the price is likely to reach the resistance at 0.8800 and 0.8900. Despite this, we expect a continuation of the downward movement of the price and recommend to keep medium-term negative positions with a stop above 0.8925 and 0.8200 and objectives near 0.8000.