27.06.2014 - The price drop of the Australian dollar may resume

The price of the Australian dollar due to the increase in iron ore prices on the world markets reached the upper boundary of the triangle, but could not overcome it and started to correct downwards. This situation provides an opportunity to open a short position with a stop above 0.9440 and target near the lower boundary of the triangle and the level of 0.9380. Is also worth noting that we expect a strong movement after the release of prices beyond the triangle. Medium-term outlook remains negative.

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