05.03.2015 - Technical view
The price of EUR/USD after some consolidation near the lower boundary of the descending channel, has broken it and reached the target level of 1.1100. At the moment, quotes continue to decline gradually and according to our estimates may soon fall to the psychologically important level of 1.1000. In case of correction, quotations may grow up to 1.1200 and 1.1280. We maintain our medium-term negative outlook and recommend holding short positions.
Nearest resistance levels: 1.1100, 1.1280, 1.1450, 1.1500, 1.1620, 1.1750, 1.1800, 1.1860
Nearest support levels: 1.1000, 1.0860, 1.0800, 1.0500
The price of GBP/USD broke through the strong support level at 1.5350 and continued to decline, which is a signal to open short positions with the targets at 1.5200 and 1.5000. In case of correction, quotations may return to the level of 1.5350. We recommend to open short positions and look forward to continuing the downward price movement in the near future, but note that the downside potential is limited by the levels close to 1.5000.
Nearest resistance levels: 1.5350, 1.5500, 1.5550, 1.5750, 1.5800
Nearest support levels: 1.5200, 1.5050, 1.5000
The price of USD/JPY is consolidating above 119.50. In case of breaking this mark, we expect overcoming of descending movement to the lower boundary of the channel and the support level at 118.50. More likely is the resumption of the upward movement with the objectives at 120.50 and 122.00. We maintain our positive outlook for the medium-term and recommend holding long positions with a stop below 118.50.
Nearest resistance levels: 120.00, 120.50, 122.00, 125.00
Nearest support levels: 119.50, 118.50, 117.40, 116.00, 115.00, 114.00, 113.00
The price of AUD/USD could not overcome the resistance level at 0.7840 and continues to consolidate below this mark. In case of continued growth, quotations may reach the level of 0.7900. According to our estimates, the price of the Australian dollar in the near future will fall to the level of support at 0.7740, and then may continue to drop to 0.7660 and 0.7600. Our medium-term outlook remains negative and we recommend holding short positions with a stop above 0.8000.
Nearest resistance levels: 0.7840, 0.8000, 0.8040, 0.8200, 0.8250, 0.8360
Nearest support levels: 0.7740, 0.7660, 0.7600, 0.7500
The price of NZD/USD could not overcome the resistance level, which coincides with the local maximum and started to correct downwards and reached the lower boundary of the rising channel. In the case of breaking through this boundary and fixing the price below 0.7500, we recommend to open short positions. Overcoming the level of 0.7600, will be the basis for further growth of the price to 0.7700 and 0.7800. We expect growth in the near future, but the probability of changing the negative trend has increased significantly.
The nearest resistance levels: 0.7600, 0.7620, 0.7700, 0.7800, 0.7850
The next support levels: 0.7500, 0.7440, 0.7340, 0.7200, 0.7000