06.08.2015 - Technical view
Currencies trading and euro. The price of EUR/USD continues to decline, but after the rebound from the level of 1.0850 has returned to the level of 1.0900. Further growth within the correction is limited by the level of 1.1000. For the continuation of the downward movement with the objectives at 1.0700 and 1.0550, the price needs to break through the support at 1.0800. We recommend holding short positions and expect further price reduction within the downtrend channel in the medium term.
Nearest resistance levels: 1.1000, 1.1080, 1.1150, 1.1250, 1.1400, 1.1450, 1.1500
Nearest support levels: 1.0900, 1.0800, 1.0700, 1.0550
Currencies trading and British pound. The price of GBP/USD has failed to gain a foothold under the lower boundary of the triangle, and returned within its boundaries. If the price fixates above the level of 1.5675, we recommend to open long positions with the targets of 1,5800 and 1.5900. On the other hand, a breaking through the lower boundary of the triangle and fixation below 1.5550 will be the basis for further price drops to 1.5460 and 1.5350. We maintain a medium-term negative view on the British pound, but recommend to wait for the signal to open new positions.
Nearest resistance levels: 1.5675, 1.5700, 1.5800, 1.5900, 1.6000
Nearest support levels: 1.5550, 1.5460, 1.5350, 1.5200, 1.5000, 1.4700
Currencies trading and Japanese yen. The price of USD/JPY after a long consolidation managed to break the strong resistance level at 124.50, which was the basis for further growth to 125.00 and 125.70. Correction of prices is limited by the lower boundary of the rising channel. The signal for change of trend will be moving beyond the boundaries of the channel and fixing the price below 123.00. Our medium-term outlook remains positive and we recommend holding long positions.
Nearest resistance levels: 125.00, 125.70, 128.00, 130.00
Nearest support levels: 124.50, 123.00, 122.00, 121.50, 120.20, 119.00, 118.50, 117.40
Currencies trading and Australian dollar. The price of AUD/USD declines inside the descending channel after failed to overcome the upper limit of the downward channel. In the near future quotations with a high probability will reach local minimums near 0.7250, after which according to our forecasts will continue to drop to 0.7200 and 0.7000. Our medium-term outlook remains negative and we recommend holding short positions with a stop above 0.7450.
Nearest resistance levels: 0.7350, 0.7500, 0.7600, 0.7700, 0.7800, 0.7840, 0.7900, 0.8000
Nearest support levels: 0.7200, 0.7000
Currencies trading and New Zealand dollar. The price of NZD/USD reached the nearest target at 0.6500, but was unable to continue to decline and rebounded upwards. Currently quotations approached the sloping line of resistance and correction can continue to 0.6600. A more likely scenario, according to our forecasts is a breaking through the level of 0.6500 and continued downward dynamics to 0.6200 and 0.6000. Our medium-term outlook remains negative and we recommend holding short positions.
Nearest resistance levels: 0.6600, 0.6700, 0.6800, 0.6850, 0.7000, 0.7080, 0.7200, 0.7260
Nearest support levels: 0.6500, 0.6360, 0.6200, 0.6000