01.06.2015 - Technical view
Currencies trading and euro. The price of EUR/USD corrected upwards to the level of 1.1000 and the upper boundary of the channel, but could not continue an upward price movement. Currently quotes are adjusted downwards, and according to our forecasts the negative dynamics will continue until the next targets at 1.0700 and 1.0550. Our medium-term outlook remains negative and we expect a high probability of further decline of the euro in the medium term.
Nearest resistance levels: 1.1000, 1.1200, 1.1280, 1.1400, 1.1500, 1.1620
Nearest support levels: 1.0800, 1.0550
Currencies trading and British pound. The price of GBP/USD continues to decline within the descending channel and currently moves near the lower boundary. In case of upward correction, quotes will rise to the next resistance levels at 1.5350, and then can continue to rise to the upper limit of the downward channel. According to our estimates, the current negative trend will continue in the near future and medium term. It is also recommended to keep short positions with the targets at 1,5100 and 1.4600.
Nearest resistance levels: 1.5350, 1.5450, 1.5500, 1.5700, 1.5800, 1.6000
Nearest support levels: 1.5200, 1.5000, 1.4700, 1.4600, 1.4500
Currencies trading and Japanese yen. The price of USD/JPY is consolidating near the important level of 124.00. In the near future the price will reach the lower boundary of the rising channel that will be a stimulus for the continued growth of quotations within its boundaries to 125.00. On the other hand, a break through the lower boundary of the channel and fixing below the local minimum located near 123.00, we recommend to fix the long positions and to open short ones. Our medium-term outlook remains positive and we still recommend holding long positions.
Nearest resistance levels: 125.00
Nearest support levels: 122.00, 121.00, 120.20, 119.00, 118.50, 117.40, 116.00, 115.00
Currencies trading and Australian dollar. The price of AUD/USD keeps moving inside the descending channel. After breaking through the level of 0.7700, the price continued to decline and stabilized near the mark of 0.7650. According to our forecasts, in the near future the price will continue to decline and will reach the next target level of 0.7550. Growth is possible only within correction to 0.7700 and 0.7800. We maintain a medium-term negative outlook and recommendation to hold short positions.
Nearest resistance levels: 0.7700, 0.7800, 0.7900, 0.8000, 0.8200, 0.8250, 0.8500
Nearest support levels: 0.7600, 0.7550, 0.7500, 0.7200
Currencies trading and New Zealand dollar. The price of NZD/USD is consolidated near the level of 0.7100. It is worth noting that earlier quotes reached the target level of 0.7200, and continued the downward trend. Within the correction the price may increase to the levels of 0.7200 and 0.7400. We recommend to hold short positions with the target at 0.7000.
Nearest resistance levels: 0.7200, 0.7300, 0.7400, 0.7430, 0.7500, 0.7620, 0.7700, 0.7740, 0.7800
Nearest support levels: 0.7000