06.01.2016 - Technical view

Currencies trading and euro. The price of EUR/USD was able to overcome a strong support level at 1.0800 and approached to the target level of 1.0700. Currently quotes are consolidated above 1.0700 and may correct to 1.0800. Our medium-term outlook remains negative and we recommend holding short positions with the targets at 1.0700 and 1.0500.

Nearest resistance levels: 1.0800, 1.0900, 1.1050, 1.1080, 1.1200, 1.1350, 1.1450

Nearest support levels: 1.0700, 1.0550, 1.0500, 1.0450, 1.0200

Currencies trading and British pound. The price of GBP/USD continued to decline and approached to the target level of 1.4600. After a long decline we can see the price correction to the inclined line of resistance, and its breaking through will lead to further growth of price to 1.4800 and 1.5000. Our medium-term outlook remains negative with a potential decline to 1.4000.

Nearest resistance levels: 1.4700, 1.4800, 1.5000, 1.5200, 1.5250, 1.5300, 1.5500, 1.5675

Nearest support levels: 1.4600, 1.4500, 1.4260, 1.4000

Currencies trading and Japanese yen. The price of USD/JPY continues to fall along the inclined support line and currently is consolidating near the important level of 118.50. The breaking and fixing of price below this level will be the basis for opening short positions with the potential decline to 116.00 and 114.00. It is worth noting that now there is a possibility to open a long position with a short stop and upside potential to 121.50, 122.30 and 123.60. Our medium-term outlook remains positive.

Nearest resistance levels: 119.00, 120.20, 120.60, 121.50, 122.30, 123.60, 124.50, 125.00

Nearest support levels: 118.50, 118.00, 117.00

Currencies trading and Australian dollar. The price of AUD/USD continued a confident decline and reached 0.7100. After a strong decline, we can see of price rebound from this level and in this case, quotes can return to the level of 0.7200. According to our estimates, more likely is a continuation of the negative dynamics of the price to 0.7000 and 0.6800. Our medium-term outlook remains negative.

Nearest resistance levels: 0.7200, 0.7300, 0.7400, 0.7500, 0.7600, 0.7700, 0.7800

Nearest support levels: 0.7150, 0.7080, 0.7000, 0.6900, 0.6750, 0.6600

Currencies trading and New Zealand dollar. The price of NZD/USD broke through the support level at 0.6700 and continued to decline. The next upside target levels will be 0.6600, 0.6450 and 0.6250. Within the correction quotations can return to the level of 0.6700. We with a high probability anticipate a further fall in prices and recommend holding short positions.

Nearest resistance levels: 0.6700, 0.6800, 0.6900, 0.7000, 0.7200

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

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