21.10.2015 - We are waiting for the signal to sell the Australian dollar

The price of the Australian dollar, after some consolidation around the level of 0.7260 has broken through inclined support line and approached the important support level at 0.7200. If the price fixates below this mark, we recommend opening short positions with the first targets at 0.7080, 0.7000 and 0.6900. At the same time, we do not exclude upward rebound and continued consolidation of quotations within the triangle. Our medium-term outlook remains negative and we are waiting for the signal to sell.

AUD/USD Technical Outlook

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