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.

RISK WARNING: Trading of complex financial products, such as Stocks, Futures, Foreign Exchange ("Forex"), Contracts for Difference ("CFDs"), Indices, Options, or other financial derivatives, on "margin" carries a high level of risk, and may not be suitable for all investors. The possibility exists that you could sustain a loss of some or all of your initial investment and, therefore, you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading these markets, and seek advice from an independent financial advisor if you have any questions or doubts. Please carefully read our full "Risk Disclosure" and "Risk Disclosures for Financial Instruments & Investment Services". FXFINPRO Capital is the trading name of PFX Financial Professionals Limited, a limited liability company formed under the laws of Cyprus, registered with the Registrar of Companies in Nicosia, Cyprus, under nr. HE 237840 and regulated by the Cyprus Securities and Exchange Commission with license number 193/13.