19.11.2014 - The Australian dollar finished the short-term uptrend

The price of the Australian dollar after strong increase in the past week and the approach to the psychologically important level of 0.8000, started to decline after it was unable to overcome it. At the moment, quotations are trying to gain a foothold below local minimum at 0.8650, which will confirm the sell signal with the objectives of 0.8500 and 0.8300. We recommend holding short positions with a stop above 0.8085 and maintain a medium-term negative outlook for the Australian dollar.

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