13.03.2014 - The Australian dollar in the side corridor

The price of the Australian dollar continues to move in within the sideways corridor 0,8925-0,9070. The quotes of AUD/USD could not overcome the strong support level 0.8925 and bounced up. At the moment, the price has reached the upper limit of the local downward channel and resistance level of 0.90. In case of consolidation above this level, the price is likely to reach $ 0.9070. We maintain a long-term negative outlook for the Australian dollar.


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