08.07.2015 - Technical view
Currencies trading and euro. The price of EUR/USD continues to decline along the inclined line of resistance and according to our estimates, will soon reach the next target level at 1.0900. Overcoming this mark will be the basis for the continuation of reduction of price to 1.0700 and 1.0500. Increase of the price in the near future is unlikely, and is possible only to the resistance level at 1.1000 and 1.1080. We recommend to hold short positions and maintain the medium-term negative outlook.
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 has shown a sharp decline, and broke through the psychologically important level of 1.5500. According to our forecast, the price decline will continue to 1.5350 and 1.5200. Within the correction, the price may rise to 1.5600. Today we can see an upward correction of the price, but our medium-term view of the British pound remains negative.
Nearest resistance levels: 1.5500, 1.5600, 1.5700, 1.5800, 1.5900, 1.6000
Nearest support levels: 1.5400, 1.5350, 1.5200, 1.5000, 1.4700
Currencies trading and Japanese yen. The price of USD/JPY decreased to the support level at 122.00. At the moment, there is a possibility of price rebound from this level to the upper boundary of the triangle. After the completion of consolidation of the price within the triangle, we expect to see strong price movement. Confirmation of the signal to sell will be fixing the price below 122.00, but we should open long positions in case of overcoming the level of 123.50. Our medium-term outlook remains positive.
Nearest resistance levels: 123.75, 124.25, 125.00, 125.70, 128.00, 130.00
Nearest support levels: 122.00, 121.50, 120.20, 119.00, 118.50, 117.40
Currencies trading and Australian dollar. The price of AUD/USD continues to decrease within the local descending trend and after overcoming the important level of 0.7500, reached six-year low. In the near future the price may continue the downward movement and reach the level of 0.7200. Ascending price rebound is possible to 0.7500. We recommend to hold short positions and maintain the medium-term negative outlook.
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 continued the downward movement along the lower boundary of the descending channel. In case of upward correction, quotes, can grow up to 0.6700. According to our estimates, quotes will reach the target level of 0.6600 in the near future. We expect a decrease of the price in the medium term and 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