31.10.2014 - The growth of the Australian dollar is unlikely

The price of the Australian dollar after strong growth of volatility following the Fed statement on monetary policy has stabilized near the level of 0.8800. Currently the quotes are consolidated within the local rising channel and in case of breaking through its lower boundary may continue to decline to 0.8500. Confirmation of a sell signal will be fixing the price below the important level of 0.8660. We maintain a medium-term negative outlook and recommend holding short positions with a stop above 0.8925.

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