03.12.2015 - Technical view

Currencies trading and euro. The price of EUR/USD continued to decline along the sloping resistance line, after a minor correction. In case of breaking through inclined resistance line, quotations may reach the levels 1.0700 and 1.0800. According to our estimates the volatility today will grow strongly, and after overcoming a local minimum at 1.0550, the price will continue to decline to 1.0450 and 1.0200. Our medium-term outlook remains negative.

Nearest resistance levels: 1.0700, 1.0800, 1.0900, 1.1000, 1.1100, 1.1200, 1.1350, 1.1450

Nearest support levels: 1.0550, 1.0500, 1.0450, 1.0200, 1.0000, 0.9600

Currencies trading and British pound. The price of GBP/USD broke through the psychologically important level of support at 1.5000 and reached the bottom of the local descending channel. In case of correction, quotations will return to 1.5000. The closest target level within the descending movement will be 1.4800 and 1.4700. Our medium-term outlook remains negative and we expect a fall in the near future.

Nearest resistance levels: 1.5000, 1.5200, 1.5250, 1.5300, 1.5500, 1.5675, 1.5700, 1.5800

Nearest support levels: 1.4800, 1.4700, 1.4600

Currencies trading and Japanese yen. The price of USD/JPY approached to the level of 123.50, and is trying to overcome it. In case of success, growth will continue to target levels at 124.50 and 125.70. Reduction of prices is limited by the lower boundary of the corridor 122,50-123,50. We expect increased volatility today, and more likely is a continuation of the growth of quotations. Our medium-term outlook remains positive.

Nearest resistance levels: 123.50, 124.50, 125.00, 125.70, 128.00, 130.00

Nearest support levels: 122.50, 121.50, 120.50, 119.00, 118.50, 118.00, 117.00

Currencies trading and Australian dollar. The price of AUD/USD reached the upper boundary of the ascending corridor, but could not overcome it and started to correct downwards. Currently the price is around the level of 0.7300 and in case of continuing the downward dynamics will continue to fall to 0.7200 and the bottom of the channel. The target level in the case of growth will be 0.7400. Our medium-term outlook remains negative.

Nearest resistance levels: 0.7300, 0.7400, 0.7500, 0.7600, 0.7700, 0.7800

Nearest support levels: 0.7200, 0.7150, 0.7080, 0.7000, 0.6900, 0.6750, 0.6600, 0.6500

Currencies trading and New Zealand dollar. The price of NZD/USD corrected downwards, but continues to move around the level of 0.6650. Fixing the price above the level of 0.6600 is the basis for the continuation of the upward movement up to 0.6800. In case of decrease the price will reach the bottom of the channel and then may fall to 0,6450-0,6500. Our medium-term outlook remains negative.

Nearest resistance levels: 0.6800, 0.6900, 0.7000, 0.7200

Nearest support levels: 0.6650, 0.6600, 0.6500, 0.6450, 0.6400, 0.6320, 0.6250, 0.6200

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