09.06.2015 - Technical view
Currencies trading and euro. The price of EUR/USD could not continue the downward movement after correction to 1.1100 and now returned to the local maximum. Further growth of prices is limited by the levels of resistance at 1,1450-1,1500. Despite the likely continued growth today, we maintain a medium-term negative outlook and recommend to wait for the signal for opening short positions.
Nearest resistance levels: 1.1400, 1.1500, 1.1620
Nearest support levels: 1.1280, 1.1200, 1.1100, 1.1000, 1.0900, 1.0800, 1.0550
Currencies trading and British pound. The price of GBP/USD after some consolidation above 1.5200, started to correct upwards and at the moment broke through the upper limit of the downward channel, and is consolidating near the important level of 1.5350. The signal for opening long positions will be fixing the price above the level of 1.5400. In this case, we expect the growth to 1.5500 and 1.5700. Our medium-term outlook remains negative.
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 was unable to gain a foothold above the important level of 125.00, and started to correct. As a result, the quotes broke through the lower boundary of the rising channel, and in case of fixing the price below the local minimum near 123.80, we recommend to open short positions with the potential of fall to 120.20 and 119.00. Our medium-term outlook remains positive but we can see a drop in the near future.
Nearest resistance levels: 125.00, 128.00, 130.00
Nearest support levels: 124.00, 123.00, 121.50, 120.20, 119.00, 118.50, 117.40
Currencies trading and Australian dollar. The price of AUD/USD rebounded from a strong support level and a local minimum at 0.7600 and reached a sloping resistance line. Currently quotes are near the level of 0.7700, and may continue to rise to 0.7800. The breaking of this level will become a signal to buy with the objectives at 0.8000 and 0.8125. We expect a fall in the price of the Australian dollar in the medium term and recommend holding short positions with a stop above 0.7800.
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 increased and broke through the upper limit of the downward channel. Further growth is limited by a strong resistance level at 0.7200, a breaking of which will be a signal of changing the trend and opening long positions. Our outlook remains negative with the target at 0.7000 but we can see the growth in the near future.
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