11.11.2015 - The fall of the Australian dollar may continue

The price of the Australian dollar continues to consolidate below the level of 0.7080 after the sharp fall last week. In the case of growth quotations may rise to the upper boundary of the descending channel, and after overcoming it to the resistance level at 0.7200. A more likely scenario is a continuation of the negative dynamics of prices. Tomorrow we predict the growth of volatility. We recommend keeping a short position with a stop above 0.7220 and objectives at 0.7000, 0.6900 and 0.6800. Our medium-term outlook is also negative.

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