04.12.2015 - Technical view

Currencies trading and euro. The price of EUR/USD yesterday showed strong growth after it could not overcome the level of 1.0550. Currently quotes are consolidated above 1.0900 and to continue growth the price needs to overcome the resistance at 1.1000. On the other hand, today there is a high probability of price correction within which it may lose a substantial portion of yesterday's growth. Our medium-term outlook remains negative, despite the recent growth.

Nearest resistance levels: 1.1000, 1.1100, 1.1200, 1.1350, 1.1450

Nearest support levels: 1.0900, 1.0800, 1.0700, 1.0550, 1.0500, 1.0450, 1.0200, 1.0000

Currencies trading and British pound. The price of GBP/USD broke through the upper limit of the downward channel, and may soon reach the inclined level of resistance and the marks 1,5200-1,5250. In case of renewal of negative dynamics quotations will return to the level of 1.5000. Our medium-term outlook remains negative and we expect strong price movement today.

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

Nearest support levels: 1.5000, 1.4800, 1.4700, 1.4600

Currencies trading and Japanese yen. The price of USD/JPY corrected to the lower limit of the corridor 122,50-123,50 and soon is likely to offset part of the decline and will return to resistance at 123.50, the overcoming of which will be the basis for the continuation of the upward price movement to 124.50 and 125.70. On the other hand, quotations may continue to fall to 121.50 and 120.50, but this scenario is less likely.

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 continues to grow along the upper boundary of the rising channel and can continue the current trend to 0.7400. In case of price correction within the channel quotes will return to the levels of 0,7200-0,7250 and lower boundary of the channel. Today we expect increased volatility. We forecast the decline in prices in the medium term and are waiting the signal to sell.

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

Nearest support levels: 0.7300, 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 continues to rise gradually within local uptrend and now quotes are around the level of 0.6700. In case of correction, the price may fall to support at 0.6600. According to our estimates, the growth can continue to 0.6800, but the medium-term outlook remains negative with the objectives at 0.6450 and 0.6250. We are waiting for the signal for the opening short positions and expect strong price movement today.

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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