07.01.2016 - Technical view
Currencies trading and euro. The price of EUR/USD could not continue to decline, and to overcome the resistance level at 1.0700 and started to correct upwards a result of which returned to the level of 1.0800. Further growth is limited by the upper boundary of the descending channel and its overcoming according to our estimates is unlikely. We maintain a medium-term negative view on the euro and predict its decline to 1.0700 and 1.0500.
Nearest resistance levels: 1.0900, 1.1050, 1.1080, 1.1200, 1.1350, 1.1450
Nearest support levels: 1.0800, 1.0700, 1.0550, 1.0500, 1.0450, 1.0200
Currencies trading and British pound. The price of GBP/USD continued to decline and reached the target level of 1.4600. As a result of its overcoming, the price may continue to decline to 1.4500 and 1.4260. In the near future we may see a correction and breaking through the inclined resistance line will be the basis to continue the price growth up to 1.4800. Our negative medium-term forecast with the target at 1.4000 remains without any changes
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 continued to decline and has broken through the inclined support line. Currently quotes are around the level of 118.00 and in case of further decline quotations may reach the levels of 117.00 and 116.00. Within the correction, quotes, may return to the levels 120,20-120,60. Our medium-term outlook remains positive, but the current decline may continue in the near future.
Nearest resistance levels: 118.50, 119.00, 120.20, 120.60, 121.50, 122.30, 123.60, 124.50
Nearest support levels: 118.00, 117.00, 116.00, 114.00
Currencies trading and Australian dollar. The price of AUD/USD continued to decline and was able to overcome the level of 0.7080. The next upside target level is 0.7000. After a strong decline the price is probable correction within which the price may rise to 0.7100. Our medium-term outlook remains negative and we expect decline to the levels 0,6800-0,6900.
Nearest resistance levels: 0.7080, 0.7150, 0.7200, 0.7300, 0.7400, 0.7500, 0.7600, 0.7700
Nearest support levels: 0.7000, 0.6900, 0.6750, 0.6600
Currencies trading and New Zealand dollar. The price of NZD/USD approached to the mark of 0.6600, but was not able to keep falling and now is adjusted up. Within the upward movement, the price can reach the level of 0.6700. Our medium-term outlook remains negative and we are waiting for further decline to target levels at 0.6450 and 0.6250.
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