03.05.2016 - Technical view
Currencies trading and euro. The price of EUR/USD continued growth and has broken through the psychologically important level at 1.1500, which was the basis for further increase in price with the target at 1.1620. In case of correction of quotations after the recent strong growth, the closest target level will be 1.1400. According to our estimates, the current growth will continue in the near future, but the medium-term outlook remains negative.
Nearest resistance levels: 1,1620, 1,1750
Nearest support levels: 1.1500, 1.1400, 1.1200, 1.1050, 1.0985, 1.0900, 1.0800, 1.0700
Currencies trading and British pound. The price of GBP/USD consolidates around the resistance level at 1.4670 and its overcoming will be the basis for continued growth to 1.4850. In case of breaking a local rising channel's lower border, the closest target level will be 1.4500. Our forecast for the coming months remains negative and we expect increased volatility.
Nearest resistance levels: 1.4670, 1.4850, 1,5000, 1,5150
Nearest support levels: 1.4500, 1.4400, 1.4050, 1.3840, 1.3600, 1,3500
Currencies trading and Japanese yen. The price of USD/JPY continued to fall and fixed below the level of 106.60, which is the basis for the continuation of a negative price dynamics with the target at 105.00. In case of correction, quotations can return to the resistance level at 108.00. Our medium-term outlook remains positive, but the current decline may continue in the near future.
Nearest resistance levels: 106,60, 108,00, 109,75, 111,00, 112,15, 113.00, 114.70, 116.00
Nearest support levels: 105,00, 103,40, 100,00
Currencies trading and Australian dollar. The price of AUD/USD has shown a strong decline after increased inside the rising channel to the level of 0.7700. It is worth noting that within the strong downward impulse quotations were able to break through the lower boundary of the rising channel and the support level at 0.7575. Fixing the price below this level will be a signal to sell with targets at 0.7500 and 0.7400. Our medium-term outlook remains negative and we expect a fall in the near future.
Nearest resistance levels: 0.7575, 0.7700, 0,7800, 0,6000
Nearest support levels: 0.7400, 0.7350, 0.7240, 0.7120, 0.7000, 0.6840
Currencies trading and New Zealand dollar. The price of NZD/USD after reaching the resistance level at 0.7050, started to correct and can reach the local level of support at 0.6940, after which the fall may continue till 0.6760. In case of overcoming a local maximum at 0.7050, the growth is likely to continue up to 0.7200. Our medium-term outlook remains negative and we expect a further decline in the near future.
Nearest resistance levels: 0.7050, 0.7200, 0.7400
Nearest support levels: 0,6940, 0,6760, 0.6600, 0.6560, 0.6450, 0.6400, 0.6320, 0.6250