03.06.2015 - Technical view
Currencies trading and euro. The price of EUR/USD has broken through the upper boundary of the descending channel and an important level of 1.1000. This fact was the signal to change the short positions to long ones. Currently quotes are trying to gain a foothold above the level of 1.1150 in the near future will likely continue to rise to 1.1280. A further increase in prices is limited by the psychologically important level of resistance at 1,1450-1,1500, the overcoming of which is unlikely. We expect the price growth in the near future, but the medium-term outlook remains negative and we recommend holding short positions.
Nearest resistance levels: 1.1200, 1.1280, 1.1400, 1.1500, 1.1620
Nearest support levels: 1.1150, 1.1000, 1.0800, 1.0550
Currencies trading and British pound. The price of GBP/USD after reaching the level of 1.5200, and some consolidation near this mark, resumed growth, and returned to a strong level of 1.5350. In case of further growth quotations will reach the upper limit of the downward channel. According to our estimates, the growth of quotations above 1.5500 in the near future is unlikely. We maintain a negative medium-term outlook and expect the price to fall 1.5200 and 1.5100 in the near future.
Nearest resistance levels: 1.5350, 1.5450, 1.5500, 1.5700, 1.5800, 1.6000
Nearest support levels: 1.5200, 1.5000, 1.4700, 1.4600, 1.4500
Currencies trading and Japanese yen. The price of USD/JPY after reaching the target level of 125.00, started to correct downwards and broke through the lower boundary of the rising channel. Fixing below the local minimum near 124.00 will be a signal for opening short positions with the potential of fall to 121.50 and 120.20. Our medium-term view remains negative, but we expect a correction in the near future.
Nearest resistance levels: 125.00, 128.00, 130.00
Nearest support levels: 123.00, 122.00, 121.00, 120.20, 119.00, 118.50, 117.40, 116.00
Currencies trading and Australian dollar. The price of AUD/USD continued strong growth after the rebound from the support level at 0.7600, and breaking through the upper boundary of the descending channel. Currently quotes are trying to gain a foothold above the level of 0.7150 and with a high probability will continue to increase to the target level of 0.7900. Despite the current growth, our medium-term outlook remains negative and we are waiting for the signal to open short positions.
Nearest resistance levels: 0.7800, 0.7900, 0.8000, 0.8200, 0.8250, 0.8500
Nearest support levels: 0.7750, 0.7600, 0.7550, 0.7500, 0.7200
Currencies trading and New Zealand dollar. The price of NZD/USD corrected upwards to the level of 0.7200 and the upper boundary of the descending channel and could not continue the upward movement. Currently quotes continue to fall along the upper boundary of the descending channel, and are likely to reach the level of 0.7080 in the near future. We expect a drop in prices in the near future and recommend holding short positions.
Nearest resistance levels: 0.7200, 0.7260, 0.7300, 0.7400, 0.7430, 0.7500, 0.7620, 0.7700
Nearest support levels: 0.7080, 0.7000