07.03.2016 - Technical view
Currencies trading and euro. The price of EUR/USD demonstrated a high level of volatility and approached the resistance level at 1.1050, but could not overcome it. In case of breaking through this mark, quotations will continue to rise to 1.1200 and 1.1375. A more likely scenario is the resumption of the negative dynamics with the objectives at 1.0800 and 1.0700. Our medium-term outlook remains negative and we expect a drop this week.
Nearest resistance levels: 1.1050, 1.1200, 1.1350, 1,1400, 1.1450, 1.1500
Nearest support levels: 1.0985, 1.0900, 1.0800, 1.0700, 1.0550
Currencies trading and British pound. The price of GBP/USD showed an increase and reached the upper limit of the downward channel. In case of fixing above this level, the growth will continue to 1.4365 and 1.4500. According to our estimates, quotations will be corrected downward in the near future and may fall to the level of support at 1.4080 and 1.4000. Our medium-term outlook remains negative.
Nearest resistance levels: 1.4365, 1.4400, 1.4500, 1.4640, 1.4700, 1.4800
Nearest support levels: 1.4080, 1.4000, 1.3860, 1.3600, 1,3500
Currencies trading and Japanese yen. The price of USD/JPY continues to consolidate within the range 113,00-114,70. Fixing the price above 114.70 will confirm the signal to sell with the objectives at 117.00, 118.80 and 121.50 and the stop below 113.00. On the other hand, in case of breaking of the lower boundary of the local rising channel and the support level at 113.00, we expect the price decline to 111.00. Our medium-term outlook remains positive, and we see significant potential for the price increase.
Nearest resistance levels: 114.70, 116.00, 118.80, 120.20, 121.50, 122.30
Nearest support levels: 114,00, 113.00, 112,00, 111.00, 110.00
Currencies trading and Australian dollar. The price of AUD/USD after strong growth, was able to overcome the level of 0.7400 and reached the upper boundary of the rising channel. Further growth within the channel is limited by the level of 0.7500. In case of decrease the price will return to the levels of 0.7240 and the bottom of the channel. We expect a correction in the near future, as well as the fall in the medium term.
Nearest resistance levels: 0.7350, 0.7400, 0.7500
Nearest support levels: 0,7240, 0.7120, 0.7000, 0.6840, 0.6800, 0.6750, 0.6600
Currencies trading and New Zealand dollar. The price of NZD/USD has shown a strong upward movement during which was able to reach the level of 0.6800 and started to correct downwards. With continued upward momentum is possible reaching of important levels at 0.6900 and 0.7000. According to our estimates, quotations will resume falling soon and the first strong target level in this case will be 0.6600. Our medium-term outlook remains positive.
Nearest resistance levels: 0.6800, 0.6900, 0.7000
Nearest support levels: 0.6600, 0,6560, 0.6450, 0.6400, 0.6320, 0.6250, 0.6200, 0.6000