03.10.2016 - Technical view

Currencies trading and euro. The price of EUR/USD has shown sharp growth, but continues to consolidate within the range 1,1140-1,1260. If the price fixates above the level of 1.1260, we expect a further increase in price to 1,1350-1,1400. Our medium-term outlook remains negative and a signal to sell with targets at 1.1050, 1.0985 and 1.0850 will be the fixation of price below the level of 1.1140.

Nearest resistance levels: 1,1260, 1,1400, 1,1500, 1,1620, 1,1750

Nearest support levels: 1,1200, 1,1140, 1,1050, 1,0985, 1,0850, 1,0800, 1,0700, 1,0550

Currencies trading and British pound. The price of GBP/USD has shown a drop today and at the moment is near a local minimum at 1.2930. In case of correction, quotations may return to the upper boundary of the descending channel and resistance level at 1.3000. A more likely scenario in the near future will be a continuation of the negative dynamics within the channel with the objectives at 1.2800 and 1.2200. Our medium-term outlook remains negative.

Nearest resistance levels: 1,3000, 1,3225, 1,3350, 1,3500, 1.3600, 1.3840, 1.4040, 1.4500

Nearest support levels: 1,2800, 1,2600, 1,2500, 1,2200, 1,2000

Currencies trading and Japanese yen. The price of USD/JPY continues to consolidate near the resistance level and the upper limit of the downward channel. If the price fixates above these levels, we expect continued growth to 103.50, after which the positive dynamics is likely to continue until 105,00, 106,40 and 108,00. Our medium-term outlook remains positive, and the fall in the near future is limited by the support level at 100.00.

Nearest resistance levels: 101,40, 103,50, 105,00, 106,40, 108,00, 109,75, 111,00, 112,15

Nearest support levels: 100,00, 99,00, 98,60, 97,00

Currencies trading and Australian dollar. The price of AUD/USD has corrected upwards after the recent decline, and is currently located around the level of 0.7650. According to our estimates, after the recent exit of price beyond the local rising channel, the signal to sell will be fixation of quotations below the level of 0.7600. We maintain our medium-term negative outlook and the likelihood of a decline in the near future is high.

Nearest resistance levels: 0,7650, 0,7700, 0,7800, 0,8000

Nearest support levels: 0,7500, 0,7450, 0,7320, 0,7250, 0,7120, 0,7000

Currencies trading and New Zealand dollar. The price of NZD/USD keeps consolidating within the triangle and after its leaving, we expect to see strong price movement. The signal to buy with targets at 0.7400 and 0.7500 will become fixation of price above the local maximum at 0.7320. A more likely scenario will be the price fixing below 0.7200 and in such case, the targets will be 0.6820, 0.6600 and 0.6450. We forecast a drop in the near future and medium term.

Nearest resistance levels: 0,7320, 0,7400, 0,7500

Nearest support levels: 0,7200, 0,7130, 0,7050, 0,6940, 0,6820, 0,6720, 0,6600, 0,6450

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