04.01.2016 - Technical view
Currencies trading and euro. The price of EUR/USD after a strong decline last week, corrected upwards and may continue its upward movement to the upper boundary of the local descending channel and the level of 1,0900. Continued growth after reaching these levels is unlikely, and we expect the resumption of the negative dynamics of prices. The next target level within fall will be 1.0800, after which quotations may drop to 1.0700 and 1.0500. Our medium-term outlook remains negative and we are waiting for the decline in the near future.
Nearest resistance levels: 1.0900, 1.1050, 1.1080, 1.1200, 1.1350, 1.1450
Nearest support levels: 1.0800, 1.0700, 1.0550, 1.0500, 1.0450, 1.0200
Currencies trading and British pound. The price of GBP/USD continued to decline after some consolidation around the level of 1.4800. As a result, the quotes broke through the inclined support line and can reach the target level of 1.4600 in the near future. Growth of price within the correction is limited by the angled resistance line. Our medium-term outlook remains negative.
Nearest resistance levels: 1.4800, 1.5000, 1.5200, 1.5250, 1.5300, 1.5500, 1.5675, 1.5700
Nearest support levels: 1.4700, 1.4600
Currencies trading and Japanese yen. The price of USD/JPY accelerated the fall and reached the local downtrend channel. According to our estimates, quotations may reach the level of 119.00 in the near future. The potential fall is limited by the level of support at 118.50. It is worth noting that in the near future, quotations may resume growth with potential targets at 120.60, 122.30 and 123.60. Our medium-term outlook remains negative.
Nearest resistance levels: 120.20, 120.60, 121.50, 122.30, 123.60, 124.50, 125.00, 125.70
Nearest support levels: 119.00, 118.50, 118.00, 117.00
Currencies trading and Australian dollar. The price of AUD/USD has broken the lower boundary of the rising local channel and showed a strong decline. In the near future the price will fall to the level of 0.7200, and then can continue to decline to 0.7080 and 0.7000. Correction of price is possible to the level of 0.7300. Our medium-term outlook remains negative and we recommend to open short positions.
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
Currencies trading and New Zealand dollar. The price of NZD/USD after breaking through the inclined support line accelerated the fall and broke the support level at 0.6800. As a result quotations may fall to 0.6700 and then the negative movement is likely to continue until the target marks on 0.6600, 0.6450 and 0.6250. Within the correction quotations can return to the level of 0.6800. Our medium-term outlook remains negative and we are waiting for the fall in the near future.
Nearest resistance levels: 0.6900, 0.7000, 0.7200
Nearest support levels: 0.6800, 0.6700, 0.6600, 0.6500, 0.6450, 0.6400, 0.6320, 0.6250