03.02.2016 - Technical view
Currencies trading and euro. The price of EUR/USD growth rate slowed, but continues the upward movement after overcoming 1.0900. Further growth is limited by a strong resistance level at 1.0985 in case of quotations approaching to this level, we recommend to accumulate short positions with the first target at 1.0800 and then reduction can continue to 1.0700 and 1.0550. Our medium-term outlook remains negative.
Nearest resistance levels: 1.0985, 1.1050, 1.1080, 1.1200, 1.1350, 1.1450
Nearest support levels: 1.0900, 1.0800, 1.0700, 1.0550, 1.0500, 1.0450, 1.0200
Currencies trading and British pound. The price of GBP/USD demonstrated strong growth and reached the upper limit of the local rising channel. Further increase in price is possible up to the level of 1.4500, but the more likely scenario according to our forecasts is the resumption of the negative dynamics of price with the first targets at 1.4200 and 1.4100. Our medium-term outlook remains negative.
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 continued to decline and has broken through the support level at 120.20 and the lower boundary of the local rising channel. The next upside target level for a further reduction will be 118.80, after breaking through which quotes may continue the negative dynamics until 117.00. In the near future is likely a rebound of prices upwards. Our medium-term outlook remains positive, but the current negative dynamics may continue in the near future.
Nearest resistance levels: 120.20, 121.50, 122.30, 123.60
Nearest support levels: 118.80, 117.00, 116.50, 116.00, 115.00
Currencies trading and Australian dollar. The price of AUD/USD was not able to continue to grow within the local rising channel and broke through its lower boundary and the support level at 0.7050. This fact is the basis for opening short positions with the potential fall to 0,6800-0,6840. In this case, the stop should be set above the local maximum near 0.7150. Our medium-term outlook remains negative and we recommend to open short positions.
Nearest resistance levels: 0.7050, 0.7180, 0.7350, 0.7400, 0.7500
Nearest support levels: 0.6840, 0.6800, 0.6750, 0.6600
Currencies trading and New Zealand dollar. The price of NZD/USD showed growth and in the near future can reach the resistance level at 0.6600. Fixation above this level will be the basis for the continuation of the upward price movement to 0.6700. According to our estimates, at the moment there is a significant probability of resumption of the negative dynamics with the objectives at 0.6350 and 0.6250. We recommend keeping short positions and maintain the medium-term negative outlook.
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