21.11.2014 - The price of AUD/USD began to rise fast

The price of the Australian dollar rose sharply today after some consolidation below 0.8650. The price has broken through this level and the upper limit of the local downward channel and continues to grow. In case of continuation of the current upward momentum, the price can reach the mark of 0.8800. Despite the current growth, medium-term trend remains negative, and we expect further price decline to objectives of 0.7500 and 0.7200. We also recommend holding short positions with a stop above 0.8085.

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