05.01.2016 - Technical view

Currencies trading and euro. The price of EUR/USD continued to decline and reached the level of 1.0800, but now continues to consolidate above this level. If the price fixates below this level of support will be completed the formation of "head and shoulders", indicating the further reduction of prices with the objectives at 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 along the inclined line of resistance and in the near future with a high probability at will reach the target level of 1.4600. The signal about the change of the local negative trend will be breaking through the resistance line and inclined level 1.4800. In this case, the quotes can grow up to 1.5000. Our medium-term outlook remains negative and we expect a further decline in the near future.

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 approached the important level of 118.50, but was unable to fix below it and started to correct upwards. Currently quotes approached the inclined line of resistance and according to our estimates will continue to rise to the target levels at 120.50, 121.50, 122.30 and 123.60. Our medium-term outlook remains positive and we recommend accumulating long positions.

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 rebounded from the support level at 0.7150 and currently is trying to gain a foothold below the level 0.7200. In case of continued negative dynamics the price is likely to fall to 0.7080 and 0.7000. Within the further correction, quotations may grow up to 0.7300. Our medium-term outlook remains negative and we are waiting for the continuation of the negative dynamics of price in the near future.

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 continues to decline and in the near future, according to our forecast will reach the support at 0.6700 and then the fall may continue till 0.6600. In case of correction, quotations may return to the level at 0.6800. A more likely scenario according to our estimates is saving the negative dynamics in the near future with the objectives at 0.6450 and 0.6250. We also maintain our medium-term negative outlook.

Nearest resistance levels: 0.6800, 0.6900, 0.7000, 0.7200

Nearest support levels: 0.6700, 0.6600, 0.6500, 0.6450, 0.6400, 0.6320, 0.6250

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