05.06.2015 - Technical view
Currencies trading and euro. The price of EUR/USD could not continue to grow and gain a foothold above the resistance level at 1.1280 and started to correct downwards. According to our estimates, growth in the near future is limited by the levels of 1.1450 and 1.1500, but more likely is a continuation of a downward price movement with the objectives at 1.0900, 1.0700 and 1.0550. We expect the price decline today and save a medium-term negative outlook.
Nearest resistance levels: 1.1280, 1.1400, 1.1500, 1.1620
Nearest support levels: 1.1200, 1.1150, 1.1000, 1.0800, 1.0550
Currencies trading and British pound. The price of GBP/USD showed an increase within the descending channel and reached its upper limit and the resistance level at 1.5400. In case of breaking and fixing above these marks, the price will continue to rise to 1.5500 and 1.5700. Our medium-term outlook remains negative and we are likely to expect a further decline in prices in a downward channel with the first targets at 1.5200 and 1.5100.
Nearest resistance levels: 1.5450, 1.5500, 1.5700, 1.5800, 1.6000
Nearest support levels: 1.5350, 1.5200, 1.5000, 1.4700, 1.4600, 1.4500
Currencies trading and Japanese yen. The price of USD/JPY keeps consolidating near the level of 124.00, but cannot continue to grow and has overcome the psychologically important level of 125.00. In case of price fixing above this mark, we expect further growth to 128.00. On the other hand, breaking through the lower boundary of the rising channel and consolidation below 123.00 will be the basis for opening short positions. We recommend to keep long positions and maintain the medium-term positive outlook on the pair.
Nearest resistance levels: 125.00, 128.00, 130.00
Nearest support levels: 123.00, 122.00, 121.00, 120.20, 119.00, 118.50, 117.40, 116.00
Currencies trading and Australian dollar. The price of AUD/USD slightly increased after a sharp fall. High volatility will continue throughout today's trading session. In the near future quotes probably will reach a local minimum at 0.7600 and will continue to fall to the target marks on 0.7550. The signal about changing the current negative trend to positive will be fixation of quotations above 0.7800. Our medium-term outlook is negative and we recommend holding short positions.
Nearest resistance levels: 0.7750, 0.7800, 0.7900, 0.8000, 0.8200, 0.8250, 0.8500
Nearest support levels: 0.7600, 0.7550, 0.7500, 0.7200
Currencies trading and New Zealand dollar. The price of NZD/USD continues to decrease gradually along the upper boundary of the descending channel and is likely to reach a local minimum at 0.7080 in the near future, after which the current movement is likely to continue to 0.7000. Our short-term outlook remains negative and we recommend holding short positions with a stop above resistance level at 0.7200.
Nearest resistance levels: 0.7200, 0.7260, 0.7300, 0.7400, 0.7430, 0.7500, 0.7620, 0.7700
Nearest support levels: 0.7080, 0.7000