08.03.2016 - Technical view
Currencies trading and euro. The price of EUR/USD maintains an elevated level of volatility and before long can reach 1.1050, overcoming of which will be the basis for continuing upward price movement to 1.1200. On the other hand, there is the possibility of renewed negative dynamics in the near future, with the potential fall to 1.0800, and then the fall may continue to 1.0700 and 1.0550. Our medium-term outlook remains negative.
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 continues to gradually grow within the local rising channel. The closest target is the mark of 1.4365, and to overcome it will be needed a strong impetus. Today, a correction may be within the frames of the rising channel. Our medium-term outlook remains negative with the objectives at 1.3860, 1.3600 and 1.3500.
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 after a long consolidation within the local rising channel and the corridor 113,00-114,70, could break through their lower limits and is currently consolidating around the level of 113.00. In case of continued negative dynamics, we may see a decrease to 111.00, but the more likely scenario is a resumption of growth with the first target at 114.70, fixing above which will be a signal to buy with targets at 117.00, 118.80 and 121.50 . Our medium-term outlook remains positive.
Nearest resistance levels: 114.70, 116.00, 118.80, 120.20, 121.50, 122.30
Nearest support levels: 113.00, 112,00, 111.00, 110.00
Currencies trading and Australian dollar. The price of AUD/USD corrected after a strong growth, but continues to move near the upper limit of the rising channel. The growth of quotations in the near future is limited by the psychologically important level of 0.7500. According to our forecasts, in the near future, the price will decrease within the correction with the first targets at 0.7365 and 0.7240. Our medium-term outlook remains negative
Nearest resistance levels: 0.7500, 0.7700
Nearest support levels: 0.7400, 0.7350, 0.7240, 0.7120, 0.7000, 0.6840, 0.6800, 0.6750
Currencies trading and New Zealand dollar. The price of NZD/USD is trying to gain a foothold above the level of 0.6750. And in case of success will continue to rise to 0.6900 and 0.7000. On the other hand, in case of continuation of the current negative dynamics and fixing below 0.6750 will be completed the formation of a double top, which indicates a trend reversal. Our medium-term outlook remains negative and we are waiting for the signal to sell.
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