01.09.2015 - Technical view
Currencies trading and euro. The price of EUR/USD continues to consolidate near the level of 1.1200. At the moment quotations broke through the upper limit of the local downward channel and in the case of overcoming the next maximum at 1.1300, we expect continued growth of quotations to the levels of 1.1400 and 1.1500. On the other hand, fixing the price below a mark of 1.1200 will be the basis for further decline with the targets at 1.1080 and 1.1000. Our medium-term outlook remains negative.
Nearest resistance levels: 1.1300, 1.1400, 1.1450, 1.1500, 1.1620, 1.1700
Nearest support levels: 1.1200, 1.1080, 1.1000, 1.0850, 1.0800, 1.0700, 1.0550
Currencies trading and British pound. The price of GBP/USD after a sharp drop to the important mark of 1.5350, rebounded upwards and may soon rise to the level of 1.5460. In case of overcoming this resistance, the growth will continue to 1.5550 and 1.5675. The breaking of the level of 1.5350 and consolidation below it will become the basis for the continuation of a downward price movement to 1.5200 and 1.5000. Our medium-term outlook remains negative, but we recommend to wait for the signal to open new positions.
Nearest resistance levels: 1.5460, 1.5550, 1.5675, 1.5700, 1.5800, 1.5900, 1.6000
Nearest support levels: 1.5350, 1.5200, 1.5000, 1.4700
Currencies trading and Japanese yen. The price of USD/JPY corrected downwards to the lower boundary of the local rising channel and the level of 120.50. In case of overcoming these support levels, we expect a price drop to 118.50 and 117.00. A more likely scenario according to our forecast is continued growth of quotations to the target levels at 123.00 and 124.50. Our medium-term outlook remains positive.
Nearest resistance levels: 121.50, 123.00, 124.50, 125.00, 125.70, 128.00, 130.00
Nearest support levels: 120.20, 119.00, 118.50
Currencies trading and Australian dollar. The price of AUD/USD could not continue to fall after reaching the level of 0.7100 and currently is adjusted upwards. Within the upward correction the price growth is possible to the levels of 0.7200 and 0.7300. According to our forecasts, the price will continue to fall to the target level of 0.7000 in the near future. Reduction potential decreased, but we see no reason for the growth of quotations above 0.7300 in the near future.
Nearest resistance levels: 0.7200, 0.7260, 0.7400, 0.7500, 0.7600, 0.7700, 0.7800, 0.7840
Nearest support levels: 0.7000, 0.6750
Currencies trading and New Zealand dollar. The price of NZD/USD was able to overcome the support level at 0.6400 and currently is trying to gain a foothold below it. In case of correction, quotations may return to the marks 0.6400 and 0.6500. We expect that the negative dynamics of the price will continue in the near future and quotes will drop to 0.6200 and 0.6000. We still recommend holding short positions.
Nearest resistance levels: 0.6400, 0.6500, 0.6600, 0.6700, 0.6800, 0.6850, 0.7000, 0.7080
Nearest support levels: 0.6360, 0.6200, 0.6000