08.05.2015 - Technical view
Currencies trading and euro. The price of EUR/USD reached the lower boundary of the rising channel and the level of 1.1200. Currently quotes can rebound upwards from these levels and reach a local maximum at 1.1400 and 1.1500. In case of breaking through the lower boundary of the channel, and in case of fixation below 1.1100, we recommend to open short positions with the targets of 1,0900 and at 1.0700. We maintain a medium-term negative outlook on the euro and forward the confirmation signal to sell.
Nearest resistance levels: 1.1280, 1.1450, 1.1500, 1.1620
Nearest support levels: 1.1100, 1.1050, 1.1000, 1.0900, 1.0800, 1.0550, 1.0500
Currencies trading and British pound. The price of GBP/USD rose sharply and reached a local maximum at 1.5500. In case of continued growth, the quotations may rise to 1.5550. Despite the current growth, we expect a resumption of the downward movement in the coming days and closing the gap. Our medium-term outlook also remains negative and we are waiting for the signal to sell.
Nearest resistance levels: 1.5550, 1.5600
Nearest support levels: 1.5500, 1.5350, 1.5200, 1.5100, 1.5000, 1.4700, 1.4600, 1.4500
Currencies trading and Japanese yen. The price of USD/JPY renewed growth and approached the level of 120.00. In case of continued upward movement, quotes reach the level of 121.00 and 122.00. The fall is limited by a strong support level 118.50. We keep medium-term positive outlook and expect strong growth of volatility today.
Nearest resistance levels: 120.00, 121.00, 122.00, 125.00
Nearest support levels: 119.50, 118.50, 117.40, 116.00, 115.00, 114.00
Currencies trading and Australian dollar. The price of AUD/USD continues to decline after failing to overcome the level of 0.8000. According to our estimates, quotes, will continue to decline in the near future to the target level of 0.7800. Fixing the price below this mark will be the basis for the continuation of the downward movement to 0.7700 and 0.7550. Growth is limited by resistance levels 0,8000-0,8050. We keep a medium-term negative outlook for the Australian dollar, and recommend holding short positions.
Nearest resistance levels: 0.8000, 0.8040, 0.8200, 0.8250
Nearest support levels: 0.7900, 0.7800, 0.7700, 0.7600, 0.7550, 0.7500, 0.7200
Currencies trading and New Zealand dollar. The price of NZD/USD continues to decline along an inclined line of resistance. In the near future quotes will reach the level of 0.7400, the overcoming of which will be the basis for continued downward movement to 0.7200. In case of correction, the price may rise to 0.7550. Our short-term outlook remains negative.
Nearest resistance levels: 0.7500, 0.7620, 0.7700, 0.7740, 0.7800, 0.7850
Nearest support levels: 0.7400, 0.7310, 0.7200, 0.7000