08.06.2015 - Technical view
Currencies trading and euro. The price of EUR/USD is consolidated near the level of 1.1100 after fell sharply on Friday. According to our forecasts the price decline in the near future will continue to 1.1000 due to the strong descending impulse. Within the correction, quotations may return to the level of 1.1200. Our medium-term outlook remains negative, but today we can see a small correction.
Nearest resistance levels: 1.1150, 1.1200, 1.1280, 1.1400, 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 continued to decline within the descending channel and reached the target level of 1.5200, but failed to overcome it and currently is consolidating near the level 1.5250. In case of breaking through the upper boundary of the descending channel and a local maximum at 1.5400, we recommend to open long positions with the targets at 1,5500, 1.5700 and 1.5800. On the other hand more likely is a continuation of the downward movement of quotations to 1.5100 and 1.4600. We maintain a medium-term negative view and recommend holding short positions with a stop above 1.5400.
Nearest resistance levels: 1.5350, 1.5400, 1.5500, 1.5700, 1.5800, 1.6000
Nearest support levels: 1.5200, 1.5000, 1.4700, 1.4600, 1.4500
Currencies trading and Japanese yen. The price of USD/JPY reached the target level of 125.00, and continued the growth within the sustainable rising channel. According to our estimates, more than likely is a continuation of the upward movement of quotations in the medium term to the next target at 128.00. In the near future quotations may correct to the lower boundary of the channel or the level of 124.00. Our medium-term outlook remains positive and we recommend holding long positions with the stop below 124.00.
Nearest resistance levels: 128.00, 130.00
Nearest support levels: 125.00, 124.00, 123.00, 121.50, 120.20, 119.00, 118.50, 117.40
Currencies trading and Australian dollar. The price of AUD/USD dropped to a local minimum at 0.7600 and is consolidated near that mark. The next target level in case of decrease will be 0.7550. The increase in the correction is possible to the closest price peaks near 0.7700 and 0.7800. The probability of rising rebound at the moment is above average. We maintain a medium-term negative outlook and recommend holding short positions.
Nearest resistance levels: 0.7750, 0.7800, 0.7900, 0.8000, 0.8200, 0.8250, 0.8500
Nearest support levels: 0.7600, 0.7550, 0.7500, 0.7200
Currencies trading and New Zealand dollar. The price of NZD/USD continues to decrease gradually along the upper boundary of the descending channel and is likely to reach a local minimum at 0.7080 in the near future, after which the current movement is likely to continue to 0.7000. Our short-term outlook remains negative and we recommend holding short positions with a stop above resistance level at 0.7200.
Nearest resistance levels: 0.7200, 0.7260, 0.7300, 0.7400, 0.7430, 0.7500, 0.7620, 0.7700
Nearest support levels: 0.7080, 0.7000