27.01.2016 - The Australian dollar may continue to rise

The price of the Australian dollar continued to rise inside the rising channel, and was able to break through the strong resistance level at 0.7050, which is a signal to close short positions. Fixation above this mark will be the confirmation of a buy signal with the upside potential to 0.7180 and 0.7350. In this case, the stop must be installed below 0.6900. We maintain a medium-term negative outlook, but likely will see continued growth in the near future.

AUD-USD Conversion (3 Months and 4 Hours)

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