18.12.2015 - The Australian dollar broke through the support and continues to decline

The price of the Australian dollar continued to decline within descending channel and reached its lower boundary after breaking the support level at 0.7150. Currently quotes are trying to gain a foothold below this level and in case of success will continue to decline to 0.7080, 0.7000 and 0.6900. Within the channel, price may return to the levels 0,7200-0,7250. Our medium-term outlook remains negative, but we do not rule out a slight correction.

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