07.07.2015 - Technical view
Currencies trading and euro. The price of EUR/USD continues to decline along the inclined line of resistance and in the near future will probably overcome the psychologically important level of 1.1000, and will continue to decline to the nearest target levels at 1.0900 and 1.0700. In case of breaking through the sloping resistance line and the price fixing above 1.1080, we expect further growth to 1.1200 and 1.1300. Our medium-term outlook remains negative.
Nearest resistance levels: 1.1080, 1.1150, 1.1200, 1.1400, 1.1450, 1.1500, 1.1620
Nearest support levels: 1.1000, 1.0900, 1.0800, 1.0550
Currencies trading and British pound. The price of GBP/USD yesterday in the morning returned lost positions and currently keeps moving inside the descending channel. In the near future quotations may continue the downward price movement to the psychologically important level of 1.5500, the overcoming of which will be the basis for further decline to 1.5350 and 1.5200. The growth of price in the near future is limited by the level of 1.5700. Our medium-term outlook remains negative.
Nearest resistance levels: 1.5700, 1.5800, 1.5900, 1.6000
Nearest support levels: 1.5500, 1.5400, 1.5350, 1.5200, 1.5000, 1.4700
Currencies trading and Japanese yen. The price of USD/JPY is corrected upwards after failing to overcome the support level at 122.00. The growth of price in the near future is limited by the inclined resistance line. In case of the continuation of the current growth quotations may reach a local maximum at 123.50 and continue to rise to 124,00-124,25. We expect increase in prices in the medium term, but do not exclude the continuing fall in the near future to 121,50 and 120,20.
Nearest resistance levels: 123.75, 124.25, 125.00, 125.70, 128.00, 130.00
Nearest support levels: 122.50, 121.50, 120.20, 119.00, 118.50, 117.40
Currencies trading and Australian dollar. The price of AUD/USD keeps consolidating near the level of 0.7500 and is trying to gain a foothold under the lower limit of the downward channel. In case of resumption of growth, quotations can return to the upper boundary of the descending channel and the level of 0.7600. We expect a continuation of the current negative dynamics in the medium term with the potential reduction to 0.7200.
Nearest resistance levels: 0.7500, 0.7600, 0.7700, 0.7800, 0.7840, 0.7900, 0.8000, 0.8200
Nearest support levels: 0.7200, 0.7000
Currencies trading and New Zealand dollar. The price of NZD/USD tries to gain a foothold below the level 0.6700 and continues to fall within the descending channel and reach our target level at 0.6600. To change the current negative trend to positive, the price needs to overcome the upper limit of the downward channel and fix above 0.6800. Our medium-term outlook remains negative and we recommend holding short positions.
Nearest resistance levels: 0.6700, 0.6850, 0.7000, 0.7080, 0.7200, 0.7260, 0.7300, 0.7400
Nearest support levels: 0.6600, 0.6500, 0.6360