02.03.2015 - ​Technical view

The price of EUR/USD has resumed decline after a slight upward rebound. At the moment, quotes are trying to gain a foothold below 1.1200. For the continuation of descending movement, the price must break through the lower boundary of the channel. The growth of price in the near future is limited by resistance level at 1.1280. We expect a continuation of the downward movement in the near future and in the medium term and recommend holding short positions with the potential fall to 1.1100 and 1.1000.

Nearest resistance levels: 1.1280, 1.1450, 1.1500, 1.1620, 1.1750, 1.1800, 1.1860, 1.2000

Nearest support levels: 1.1100, 1.1000, 1.0800, 1.0500

Euro and Dollar Technical Analysis

The price of GBP/USD continues to move above the level of 1.5400 and the lower limit of the downward channel. In case of rebound from these levels, quotes will rise to a local maximum at 1.5550. Signal of changing the current positive trend to negative, with the potential fall to 1.5200 and 1.5000 will be fixing the price below 1.5350. We expect continued growth in price within the channel in the near future.

Nearest resistance levels: 1.5500, 1.5550, 1.5750, 1.5800

Nearest support levels: 1.5350, 1.5300, 1.5200, 1.5050, 1.5000

The price of USD/JPY was able to overcome the local resistance level at 119.50 and reached the upper boundary of the rising channel. In case of further growth, quotes will reach the level of 120.00 and 120.50. At the moment, there is a probability of the price correction to the level of 119.50. Our medium-term outlook remains positive and we recommend holding long positions with a stop below 118.50.

Nearest resistance levels: 120.00, 120.50, 122.00, 125.00

Nearest support levels: 119.50, 118.50, 117.40, 116.00, 115.00, 114.00, 113.00

The price of AUD/USD fixed below 0.7840 and has broken through the lower boundary of the local rising channel. In this regard, we expect a continuation of the downward price movement with the potential fall to 0.7740 and 0.7650. For the resumption of growth the price needs to overcome the level of 0.7840, but this scenario in the near future is unlikely. We maintain our medium-term negative outlook and recommend holding short positions.

Nearest resistance levels: 0.7840, 0.8000, 0.8040, 0.8200, 0.8250, 0.8360

Nearest support levels: 0.7740, 0.7660, 0.7600, 0.7500

The price of NZD/USD is gradually reduced following strong growth in previous days. Falling the price is limited by the level of support at 0.7500. In case of breaking through this mark and the inclined support line, we expect continuation of reduction of the price to 0.7440 and 0.7340. The growth in the near future is limited by the levels 0,7600-0,7620. We expect a continuation of positive dynamics in the medium term, but the decline may continue in the near future.

Nearest resistance levels: 0.7570, 0.7620, 0.7700, 0.7800, 0.7850

Nearest support levels: 0.7500, 0.7440, 0.7340, 0.7200, 0.7000

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