01.03.2016 - Technical view
Currencies trading and euro. The price of EUR/USD after fixing under the lower boundary of the rising channel, continued the downward movement along the bottom of the local descending channel. According to our forecast, the price will continue to fall in the near future to 1,080 and breaking through this mark will be the basis for the continuation of the current dynamics to 1.0700. The growth of price within the correction is limited by the level of 1.0985 and the upper boundary of the channel. Our medium-term outlook remains negative.
Nearest resistance levels: 1.0900, 1.0985, 1.1050, 1.1200, 1.1350, 1,1400, 1.1450, 1.1500
Nearest support levels: 1.0800, 1.0700, 1.0550
Currencies trading and British pound. The price of GBP/USD after some consolidation around the level of 1.3860, started to correct up and may soon return to the level of 1.4000. The breaking of given level and fixation above it will cause a further rise in share price to 1.4365. In case of continued negative dynamics we expect reaching the target marks at 1.3600 and 1.3500. Our medium-term outlook remains negative.
Nearest resistance levels: 1.4000, 1.4080, 1.4365, 1.4400, 1.4500, 1.4640, 1.4700, 1.4800
Nearest support levels: 1.3860, 1.3600, 1,3500
Currencies trading and Japanese yen. The price of USD/JPY continues to decline gradually and overcoming of support at 113.00 gives the opportunity for the continuation of the negative dynamics to the support level at 111.00. Consolidation of price may continue in the near future and after its completion, we expect a strong upward price movement. Our medium-term outlook remains positive.
Nearest resistance levels: 113.00, 113.60, 114.70, 116.00, 118.80, 120.20, 121.50, 122.30
Nearest support levels: 111.00, 110.00
Currencies trading and Australian dollar. The price of AUD/USD has broken through the lower boundary of the triangle and at the moment is trying to gain a foothold below it. In case of success, we recommend to open short positions with a stop above 0.7250 and target levels at 0.7000 and 0.6840. Our medium-term outlook remains negative and we expect a decline in the near future.
Nearest resistance levels: 0.7180, 0,7240, 0.7350, 0.7400, 0.7500
Nearest support levels: 0.7000, 0.6840, 0.6800, 0.6750, 0.6600
Currencies trading and New Zealand dollar. The price of NZD/USD after breaking through the lower boundary of the triangle was not able to gain a foothold above the important level of 0.6600 and at the moment has corrected upwards and closed the gap. Fixation below 0.6600 will be a strong signal for the opening short positions with the reduction potential up to 0.6450 and 0.6250. Our medium-term outlook remains negative and we are waiting for confirmation of the sell signal.
Nearest resistance levels: 0.6600, 0.6750, 0.6800, 0.6900, 0.7000
Nearest support levels: 0.6450, 0.6400, 0.6320, 0.6250, 0.6200, 0.6000