06.05.2015 - Technical view
Currencies trading and euro. The price of EUR/USD rebounded from the bottom of the channel and the support level of 1.1100. Within a current upward movement, quotations may continue to grow to the level of resistance at 1.1280. The breaking of the bottom of the channel and below the local minimum fixation below 1.1100 will be the signal for the opening short positions with the targets at 1,1000, 1.0900 and 1.0700. Our medium-term outlook remains negative and we are waiting for the signal for the opening short positions.
Nearest resistance levels: 1.1280, 1.1450, 1.1500, 1.1620
Nearest support levels: 1.1100, 1.1050, 1.1000, 1.0900, 1.0800, 1.0550, 1.0500, 1.0400
Currencies trading and British pound. The price of GBP/USD after consolidation above the support 1.5100, began to grow and reached the level of 1.5200 near which is consolidating at the moment. In case of further increase in the price quotations reached the levels 1.5350 and 1.5500. We maintain a medium-term negative view on the British pound and expect increased volatility this week.
Nearest resistance levels: 1.5200, 1.5350, 1.5500, 1.5550, 1.5600
Nearest support levels: 1.5100, 1.5000, 1.4700, 1.4600, 1.4500
Currencies trading and Japanese yen. The price of USD/JPY was not able to continue the growth after consolidation above 120.00. Currently quotes continue to consolidate near this mark. The fall of price is limited by the level of support at 118.50. According to our forecasts, the price will continue to rise in the near future and in the medium term, with the objectives at 121.00 and 122.00.
Nearest resistance levels: 120.00, 121.00, 122.00, 125.00
Nearest support levels: 119.50, 118.50, 117.40, 116.00, 115.00, 114.00
Currencies trading and Australian dollar. The price of AUD/USD continues to grow after the rebound from the level of 0.7800, and approached the important level of 0.8000. Further growth of quotations is limited by the local highs around 0.8050. For the continuation of growth the price needs to gain a foothold above these levels. At the moment, there is a great probability of resumption of the downward price movement with the objectives at 0.7800, 0.7700 and 0.7550. Our medium-term outlook remains negative.
Nearest resistance levels: 0.8000, 0.8040, 0.8200, 0.8250
Nearest support levels: 0.7900, 0.7800, 0.7700, 0.7600, 0.7550, 0.7500, 0.7200
Currencies trading and New Zealand dollar. The price of NZD/USD broke through the strong support level at 0.7500 and continued to decline. According to our forecasts, in the near future quotations may continue descending movement to the levels 0.7400 and 0.7200. The price growth in the near future is limited by levels of 0.7620 and 0.7700. We expect a continuation of the downward movement and recommend holding short positions.
Nearest resistance levels: 0.7500, 0.7620, 0.7700, 0.7740, 0.7800, 0.7850
Nearest support levels: 0.7400, 0.7310, 0.7200, 0.7000