09.07.2015 - Technical view
Currencies trading and euro. The price of EUR/USD is corrected upwards within the descending channel. Currently quotes are near the level of 1.1080, and approached the upper limit of the channel. If the price will fix above these levels, we expect continued growth to 1,1200-1,1250. At the moment, there is the possibility of renewed downward price movement with the first targets at 1.1000 and 1.0900. We maintain a medium-term negative outlook and recommend holding short positions.
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 fixed under the lower boundary of the descending channel and continued to fall during which reached the target level of 1.5350. According to our forecasts, the price decline will continue in the near future to the target level at 1.5200. Within the correction quotes can return to the level of 1.5500. Our medium-term outlook remains negative and we recommend holding short positions.
Nearest resistance levels: 1.5400, 1.5500, 1.5600, 1.5700, 1.5800, 1.5900, 1.6000
Nearest support levels: 1.5350, 1.5200, 1.5000, 1.4700
Currencies trading and Japanese yen. The price of USD/JPY is corrected upwards after a sharp fall. Thus, quotes were not able to reach the target level at 120.20, and returned to the important level of 121.50. In case of continued growth, the price will probably reach 122.00 and 122.50. It is worth noting that the decline may resume with the reduction potential to 120.20 and 119.00. Our medium-term outlook remains negative.
Nearest resistance levels: 121.50, 122.00, 123.75, 124.25, 125.00, 125.70, 128.00, 130.00
Nearest support levels: 120.20, 119.00, 118.50, 117.40
Currencies trading and Australian dollar. The price of AUD/USD could not overcome the level of 0.7400 and started to correct upwards. Within the corrective upward movement, the price broke through the upper limit of the local downward channel. In the nearest future quotations may continue to grow to the level of 0.7500, but the medium-term trend remains negative and we see no reason to change it. Our medium-term outlook remains negative and we recommend holding short positions with the target at 0.7200.
Nearest resistance levels: 0.7500, 0.7600, 0.7700, 0.7800, 0.7840, 0.7900, 0.8000, 0.8200
Nearest support levels: 0.7400, 0.7200, 0.7000
Currencies trading and New Zealand dollar. The price of NZD/USD corrected upwards within the descending channel and currently is near its upper boundary. In case of leaving the channel, and fixing above the local maximum around 0.6800, we expect continued growth in prices up to 0.7000 and 0.7200. On the other hand, now there is a high probability of further downward price movement with the potential of fall to 0.6600. Our medium-term outlook remains negative and we recommend holding short positions.
Nearest resistance levels: 0.6800, 0.6850, 0.7000, 0.7080, 0.7200, 0.7260, 0.7300, 0.7400
Nearest support levels: 0.6700, 0.6600, 0.6500, 0.6360