16.05.2016 - The Australian dollar may continue to fall

The price of the Australian dollar after consolidation below 0.7400, continued to decline along the upper border of the local descending channel and has reached the target level of 0.7250. At the moment, the price is trying to overcome the upper boundary of descending channel and in case of success will continue to rise up to 0.7400, the overcoming of which will be a signal for changing the negative trend to the positive. We maintain our medium-term negative outlook with the potential fall to 0.6800, but do not exclude the correction in the near future.

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