05.07.2016 - Technical view
Currencies trading and euro. The price of EUR/USD continues to grow within the local rising channel and may soon reach an important resistance level at 1.1200. In case of breaking through the lower boundary of the channel and fixing of price below the level of 1.1050, quotations will continue to decline to 1.0985 and 1.0900. Our medium-term outlook remains negative with the objectives at 1.0700 and 1.0550 and potential of ascending movement the nearest future considerably reduced.
Nearest resistance levels: 1,1200, 1,1400, 1,1500, 1,1620, 1,1750
Nearest support levels: 1,1050, 1,0985, 1,0850, 1,0800, 1,0700, 1,0550, 1,0500
Currencies trading and British pound. The price of GBP/USD decreased and approached to the support level at 1.3225. In case of continued negative dynamics, the targets will be 1.3000 and 1.2800. The growth in the near future is limited by the resistance at 1.3350, the overcoming of which will be the basis for further price increase to 1.3600. Our medium-term outlook remains negative.
Nearest resistance levels: 1,3350, 1.3600, 1.3840, 1.4040, 1.4500, 1.4670, 1.4850, 1,5000
Nearest support levels: 1,3225, 1,3000, 1,2600
Currencies trading and Japanese yen. The price of USD/JPY decreases along the upper boundary of the descending channel, which price has left previously. Nearest support is 101,40 breaking through which will be the basis for the further decline to 100.00 and 99.00. According to our estimates, the decline will continue in the near future, but its potential is low and we maintain a medium-term negative outlook on the yen.
Nearest resistance levels: 103,50, 105,00, 106,40, 108,00, 109,75, 111,00, 112,15, 113.00
Nearest support levels: 101,40, 100,00, 99,00, 98,60
Currencies trading and Australian dollar. The price of AUD/USD corrected downward and at the moment is trying to gain a foothold above the level of 0.7500. In case of success quotations will continue to rise to 0.7575 and 0.7700. According to our estimates, there is a high probability of breaking through the local rising channel's lower border, which will be the basis for the continuation of negative dynamics of price to 0.7400 and 0.7320. Our medium-term outlook remains negative.
Nearest resistance levels: 0,7575, 0,7700, 0,7800, 0,8000
Nearest support levels: 0,7500, 0,7400, 0,7320, 0,7250, 0,7120, 0,7000, 0,6840
Currencies trading and New Zealand dollar. The price of NZD/USD has grown to the upper boundary of the local rising channel and approached to the resistance level at 0.7250. Overcoming this level will lead to continuing growth to 0.7400 and 0.7500, but more likely will be a drop in prices in the near future to support at 0.7130, after which the negative dynamics may continue until 0.7050. Our medium-term outlook remains negative.
Nearest resistance levels: 0,7250, 0,7400, 0,7500
Nearest support levels: 0,7130, 0,7050, 0,6940, 0,6820, 0,6720, 0,6575, 0,6450, 0,6400