02.09.2015 - Technical view
Currencies trading and euro. The price of EUR/USD broke through the upper limit of the local downward channel, but was unable to gain a foothold above the local maximum near 1.1300. In case of continuation of the upward movement, quotes will continue to rise to the levels of 1.1400 and 1.1500. On the other hand, a signal for opening short positions with the first targets at 1.1080 and 1.1080 will be overcoming and consolidation of quotations below the level of 1.1200. 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 has broken through the level of 1.5350 and continued to decline, which was the basis for opening short positions with the closest target levels at 1.5200 and 1.5000. For the resumption of growth quotations need to break through the upper limit of the local downward channel and gain a foothold above 1.5350. Our medium-term outlook remains negative and we recommend holding short positions.
Nearest resistance levels: 1.5350, 1.5460, 1.5550, 1.5675, 1.5700, 1.5800, 1.5900, 1.6000
Nearest support levels: 1.5200, 1.5000, 1.4700
Currencies trading and Japanese yen. The price of USD/JPY is trying to gain a foothold below the level of 120.50, after breaking the lower border of the local rising corridor. If successful, the downward price movement may continue to 118,00 and 117,00. In case of the alternative scenario, fixing the price above the level of 121.50 will confirm the signal for opening long positions with the upside potential to 123.00 and 124.50. Our medium-term outlook remains positive.
Nearest resistance levels: 120.50, 121.50, 123.00, 124.50, 125.00, 125.70, 128.00, 130.00
Nearest support levels: 119.00, 118.50, 118.00, 117.00
Currencies trading and Australian dollar. The price of AUD/USD has reached the target level of 0.7000 and lower boundary of downward channel. To overcome this level of support quotations need significant incentive. In case of a rebound, the first target levels will become 0.7200 and 0.7260. We maintain a medium-term negative outlook but note a high probability of upward correction 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 corrected upward to the sloping resistance line, but according to our forecasts in the near future will continue downward movement to target levels at 0.6200 and 0.6000. To change the local negative trend to positive, the price need to gain a foothold above the level of 0.6400. Our medium-term outlook remains negative and we 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: 0.6300, 0.6200, 0.6000