02.07.2015 - Technical view
Currencies trading and euro. The price of EUR/USD continues to fall along the inclined support line, and reached the target level at 1.1080. According to our estimates, quotes will continue to fall to the next targets at 1.1000, 1.0900 and 1.0700. Within the correction, quotations can return to the level of 1.1200. Our medium-term outlook for the euro remains negative and we expect lower prices in the near future.
Nearest resistance levels: 1.1080, 1.1150, 1.1200, 1.1400, 1.1450, 1.1500, 1.1620
Nearest support levels: 1.1000, 1.0900, 1.0800, 1.0550
Currencies trading and British pound. The price of GBP/USD after a long consolidation within the corridor 1,5700-1,5800, has broken its lower boundary and began to decline. Currently quotes are near the level of 1.5600 and will likely continue the downward movement to the target levels 1.5500 and 1.5350. The increase within the correction is limited by the levels of resistance at 1.5700 and 1.5800. Our medium-term outlook remains negative and we are waiting for further decline in the near future.
Nearest resistance levels: 1.5700, 1.5800, 1.5900, 1.6000
Nearest support levels: 1.5500, 1.5400, 1.5350, 1.5200, 1.5000, 1.4700
Currencies trading and Japanese yen. The price of USD/JPY continues to grow after a failed attempt of fixing the price below the level of 122.50. Currently quotes approached the level of 123.50, and according to our estimates will continue to rise to 124,00-124,25. Rising of price is likely to the levels of 125.00 and 125.70 in the near future. Within the correction, price may return to the level of 122.50. Our medium-term outlook remains positive.
Nearest resistance levels: 123.75, 124.25, 125.00, 125.70, 128.00, 130.00
Nearest support levels: 122.50, 121.50, 120.20, 119.00, 118.50, 117.40
Currencies trading and Australian dollar. The price of AUD/USD returned to the descending channel and will likely decline to 0.7600 in the near future. Within the correction, quotations may grow up to 0.7700 and 0.7800. Overcoming the level of 0.7600 and fixing below this level of support will be the basis for further price decline to 0.7500 and 0.7200. We expect a decrease in prices in the near future and maintain the medium-term negative outlook
Nearest resistance levels: 0.7700, 0.7800, 0.7840, 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 accelerated the fall and has broken the lower limit of the downward channel. In case of upward correction, quotes, can grow up to 0.6800 and the upper limit of the downward channel. According to our estimates, at the moment there is a high probability of falling the price to the target level at 0.6600 in the near future. Our medium-term outlook remains negative and we recommend holding short positions.
Nearest resistance levels: 0.6700, 0.6850, 0.7000, 0.7080, 0.7200, 0.7260, 0.7300, 0.7400
Nearest support levels: 0.6600, 0.6500, 0.6360