01.06.2016 - Technical view
Currencies trading and euro. The price of EUR/USD could not overcome the descending channel's upper border and renewed fall within it. The growth of price in the near future is limited by the resistance level at 1.1200 and breaking through it will be a signal about the change of the local negative trend to positive. According to our estimates, the price decline will continue in the near future with the targets at 1.1050, 1.0985 and 1.0850. Our medium-term outlook remains negative.
Nearest resistance levels: 1.1200, 1.1400, 1.1500, 1,1620, 1,1750
Nearest support levels: 1.1050, 1.0985, 1.0900, 1.0800, 1.0700
Currencies trading and British pound. The price of GBP/USD has shown a strong decline during which has been able to break through the lower boundary of the local rising channel and reached an inclined support line. In case of continuation of negative dynamics the closest target levels will be 1,4350-1,4400. We expect a high level of volatility in June, and the more likely is the continuation of growth with the potential of reaching 1.5000.
Nearest resistance levels: 1.4500, 1.4670, 1.4850, 1,5000, 1,5150
Nearest support levels: 1.4400, 1.4040, 1.3840, 1.3600, 1,3500
Currencies trading and Japanese yen. The price of USD/JPY has fallen to an important level of 109.75 and an inclined support line. Fixing the price below these levels will be a signal to sell with targets at 108.00 and 106.60. We expect the price to rebound from the current levels and return to the level of 111.00 and then the growth may continue to 112.15 and 114.70. Our medium-term outlook remains positive.
Nearest resistance levels: 111,00, 112,15, 113.00, 114.70, 116.00
Nearest support levels: 109,75, 108,00, 106,60, 105,00, 103,40, 100,00
Currencies trading and Australian dollar. The price of AUD/USD continued its growth and was able to overcome the important level of 0.7250, which was a signal of completion the local descending trend. In this connection, in the near future growth may continue to 0.7400. Our medium-term outlook remains negative and after the current correction, we expect the resumption of the fall.
Nearest resistance levels: 0.7400, 0,7500, 0.7575, 0.7700, 0,7800, 0,6000
Nearest support levels: 0.7250, 0.7120, 0.7000, 0.6840
Currencies trading and New Zealand dollar. The price of NZD/USD showed a strong growth and has broken through the upper boundary of the local descending channel. In case of continued growth and breaking through the resistance at 0.6820, the growth will continue to 0,6900-0,6940. Our medium-term outlook remains negative and we look forward to the resumption of negative dynamics in the near future with the targets at 0.6720, 0.6575 and 0.6450.
Nearest resistance levels: 0,6820, 0,6940, 0.7050, 0.7200, 0.7400
Nearest support levels: 0,6720, 0,6575, 0.6450, 0.6400, 0.6320, 0.6250