01.02.2016 - Technical view
Currencies trading and euro. The price of EUR/USD has shown a strong decline and approached to an important support level at 1.0800 and currently is corrected upwards. In order to continue negative dynamics with the first targets at 1.0700 and 1.0550, quotations need to fix below the level of 1.0800. Growth of price in the near future is limited by a strong resistance level at 1.0985. Our medium-term outlook remains negative, but today we can see a continuation of the correction.
Nearest resistance levels: 1.0900, 1.0985, 1.1050, 1.1080, 1.1200, 1.1350, 1.1450
Nearest support levels: 1.0800, 1.0700, 1.0550, 1.0500, 1.0450, 1.0200
Currencies trading and British pound. The price of GBP/USD has shown a sharp decline, and reached the lower boundary of the local rising channel and fixed beyond the descending corridor. In case of continued price correction within the correction, quotes will return to around 1.4365. In order to continue negative dynamics, the price needs to overcome local minimum around 1.4080. Our medium-term outlook remains negative, but today, growth may continue.
Nearest resistance levels: 1.4365, 1.4400, 1.4500, 1.4600, 1.4700, 1.4800, 1.5000, 1.5200
Nearest support levels: 1.4080, 1.4000, 1.3860, 1.3600
Currencies trading and Japanese yen. The price of USD/JPY after a long consolidation around the level of 118.80, has shown strong growth and reached the first target at 120.20 and then continued to rise to the upper boundary of the rising channel. Within the growth, quotations may reach the level of 122.20. In the case of correction, quotations may fall to 120.30, but will probably continue to rise in the near future with the objectives at 122.30 and 123.60. Our medium-term outlook remains positive.
Nearest resistance levels: 121.50, 122.30, 123.60
Nearest support levels: 120.60, 120.20, 118.80, 117.00, 116.50, 116.00, 115.00
Currencies trading and Australian dollar. The price of AUD/USD corrected to the support level at 0.7075 and approached the lower boundary of the descending channel. In case of continuation of the upward movement within the channel quotations will reach the levels 0.7180 and 0.7350. In case of breaking the support level at 0.7075 and fixing beyond the descending channel, the decline will continue to 0.6840 and 0.6800. Our medium-term outlook remains negative.
Nearest resistance levels: 0.7180, 0.7350, 0.7400, 0.7500
Nearest support levels: 0.7050, 0.6840, 0.6800, 0.6750, 0.6600
Currencies trading and New Zealand dollar. The price of NZD/USD could not break through the upper limit of the downward channel and in the near future may continue negative dynamic to 0.6350 and 0.6250. On the other hand, the potential growth is limited by the resistance level at 0.6600. We still recommend holding short positions and maintain the medium-term negative outlook for the New Zealand dollar.
Nearest resistance levels: 0.6500, 0.6600, 0.6700, 0.6800, 0.6900, 0.7000
Nearest support levels: 0.6450, 0.6400, 0.6320, 0.6250, 0.6200, 0.6000