08.01.2016 - Technical view
Currencies trading and euro. The price of EUR/USD has shown strong growth during which was able to break through the upper boundary of the local descending channel and approached to the level of 1.0950. After strong growth in the previous days, we expect the resumption of a negative price dynamics and reaching of the target marks on the 1.0800 and 1.07000. Our medium-term outlook remains negative and we recommend accumulating short positions.
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 broke through the important level of 1.4600, but failed to gain a foothold below it and corrected upwards. Further growth is possible to the angled line of resistance and its breaking through will be the basis for further growth of quotations to 1.4800 and 1.5000. Our medium-term outlook remains negative, but we do not exclude the upward correction in the near future.
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 broke through the inclined support line and reached the level of 117.50 and then corrected upwards. According to our estimates, the upward movement may continue in the near future within the correction and the price can reach the levels of 119.00 and 120.20. Our medium-term outlook is positive and we see an opportunity to buy with the short stop below 117.50 and objectives at 120.20, 121.50 and 122.30.
Nearest resistance levels: 119.00, 120.20, 120.60, 121.50, 122.30, 123.60, 124.50, 125.00
Nearest support levels: 118.00, 117.00
Currencies trading and Australian dollar. The price of AUD/USD after reaching the level of 0.7000, and some consolidation around it started to correct upward and broke through the upper limit of the local downward channel. Our medium-term outlook is negative and after the current correction that may last till 0,7100-0,7150, we expect a further decline to 0.6800. We also expect a decline in the medium term.
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 could not continue to fall after reaching the level of 0.6600, and some consolidation above this mark. Currently quotes are corrected upwards and may rise to 0.6700. Our medium-term outlook remains negative and we are waiting for further decline of price to the levels of 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