04.08.2015 - Technical view
Currencies trading and euro. The price of EUR/USD continues to decline gradually within the downward channel. According to our estimates, quotes will soon fall to 1.0900 and after breaking through this level will continue to drop to 1.0800, 1.0700 and 1.0550. The upward correction is possible to the level of 1.1080 and the upper boundary of the channel. We recommend keeping short positions and expecting increased volatility in the end of the week. Our medium-term outlook remains negative.
Nearest resistance levels: 1.1000, 1.1080, 1.1150, 1.1250, 1.1400, 1.1450, 1.1500
Nearest support levels: 1.0900, 1.0800, 1.0700, 1.0550
Currencies trading and British pound. The price of GBP/USD is consolidated within the triangle. In the nearest future quotes will probably continue to move within given figure and the amplitude of price fluctuations according to our forecast will decrease. After leaving and fixation of price outside of the triangle, we recommend to open new positions. Buy signal will be fixation higher than 1.5675, and signal to sell - fixing prices below 1.5550. Our medium-term outlook remains negative.
Nearest resistance levels: 1.5675, 1.5700, 1.5800, 1.5900, 1.6000
Nearest support levels: 1.5550, 1.5460, 1.5350, 1.5200, 1.5000, 1.4700
Currencies trading and Japanese yen. The price of USD/JPY broke through the lower boundary of the rising channel and at the moment is consolidated near the level of 124.00. In case of further reduction of quotations, confirmation of a sell signal with the targets 121.50 and 120.20 on will be price fixation below 123.00. On the other hand, overcoming the resistance level at 124.50, will be the basis for the continued growth of quotations to 125.00 and 125.70. We keep medium-term positive outlook.
Nearest resistance levels: 124.25, 125.00, 125.70, 128.00, 130.00
Nearest support levels: 122.50, 122.00, 121.50, 120.20, 119.00, 118.50, 117.40
Currencies trading and Australian dollar. The price of AUD/USD has shown a sharp increase in which broke through the important resistance level at 0.7350 and reached the upper limit of the local downward channel. Overcoming resistance at 0.7400 and moving beyond medium-term downtrend channel will be the basis for further price increase to 0.7500. In the nearest future the price may resume decline with targets at 0.7200 and 0.7000. We forecast a drop in the medium term.
Nearest resistance levels: 0.7350, 0.7500, 0.7600, 0.7700, 0.7800, 0.7840, 0.7900, 0.8000
Nearest support levels: 0.7200, 0.7000
Currencies trading and New Zealand dollar. The price of NZD/USD rebounded from the level of 0.6550 and returned to the important level at 0.6600. It is worth noting that previously the price broke through the upper boundary of the descending channel and at the moment continues to move above it. In case of growth quotations may reach the strong resistance level at 0.6700. More likely is a further drop in prices in the near future and in the medium term to 0.6200 and 0.6000.
Nearest resistance levels: 0.6600, 0.6700, 0.6800, 0.6850, 0.7000, 0.7080, 0.7200, 0.7260
Nearest support levels: 0.6500, 0.6360, 0.6200, 0.6000