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24.06.2014 - Bulls cannot push the Australian dollar above the resistance

The price of the Australian dollar failed to break the level of the nearest local maximum at 0.9440 and retreated downward. The reason for the strong growth yesterday has become positive data on the industry in China, which growth accelerated. To overcome the resistance, the price will need a strong impulse. We expect lower price in the medium term and will recommend opening short positions after fixing the price below the local minimum of 0.9380. In such case, the quotes may fall to 0.9340 and 0.9220.

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The CIF license of PFX Financial Professionals Ltd has been suspended by the Cyprus Securities and Exchange Commission until the 24th of December 2016. Please click here
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