02.02.2016 - Technical view
Currencies trading and euro. The price of EUR/USD continued to rise after almost reached the strong support level at 1.0800 and rebounded upwards. Currently quotes are around the level of 1.0900 and in the case of continued upward trend may continue to rise to a strong resistance level at 1.0985, the overcoming of which is unlikely. Current growth may continue in the near future, but we expect the resumption of the negative dynamics with a potential decline to 1.0700 and 1.0550. Our medium-term view also remains negative.
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 showed a strong growth within the local ascending channel and reached its upper limit after was fixed beyond the descending corridor. At the moment, there is a high probability of a downward price correction with the potential of reaching the levels 1,4080-1,4100. Our medium-term outlook remains negative and we expect a price decline of the British pound today.
Nearest resistance levels: 1.4400, 1.4500, 1.4600, 1.4700, 1.4800, 1.5000, 1.5200
Nearest support levels: 1.4365, 1.4080, 1.4000, 1.3860, 1.3600
Currencies trading and Japanese yen. The price of USD/JPY after reaching the upper limit of the downward channel started to correct downwards and approached to the important support level at 120.20. A further drop in prices is limited by the lower boundary of ascending channel. We expect the resumption of growth in the near future and recommend to accumulate long positions with the potential of reaching the levels of 122.30 and 123.60. Our medium-term outlook remains positive and the price has significant potential for growth.
Nearest resistance levels: 121.50, 122.30, 123.60
Nearest support levels: 120.20, 118.80, 117.00, 116.50, 116.00, 115.00
Currencies trading and Australian dollar. The price of AUD/USD showed a strong growth and volatility has dropped to the lower limit of the downward channel, and in the case of breaking through the level of 0.7080, and fixation below it, we expect a continuation of the negative dynamics of price to the levels of 0.6840 and 0.6800. The growth in the near future is limited by the level of 0.7180. 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 rose sharply, but could not reach the level of resistance at 0.6600 and is currently is corrected downwards. In case of continued upward movement and overcoming 0.6600, growth will continue to 0.6700. According to our estimates, today the price decline will continue until 0.6450and then a negative trend may continue to 0.6350 and 0.6250. Our medium-term outlook remains negative.
Nearest resistance levels: 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