03.05.2016 - THE PRICE OF THE AUSTRALIAN DOLLAR HAS MOVED BEYOND THE RISING CHANNEL

The price of the Australian dollar showed a decrease after failed to gain a foothold above the inclined line of resistance. As a result, quotations have broken through the lower boundary of the ascending channel and the level of support at 0.7575. To continue, the negative dynamics with the objectives at 0.7400 and 0.7240, quotations must overcome the psychologically important support level at 0.7500.Our medium-term outlook is negative and we expect a continuation of negative dynamics in the near future.

Source: https://fxfinpro.com