10.03.2016 - Technical view
Currencies trading and euro. The price of EUR/USD after a sharp increase yesterday, was unable to reach and overcome the resistance level at 1.1050 and started to correct downwards. Currently quotations are consolidated near the important level of 1.0985 and may continue the negative dynamics with the first targets at 1.0800 and 1.0700. On the other hand fixation above 1.1050, will lead to the growth of quotations to 1.1200. We forecast a strong price drop today and our medium-term view on the euro also remains negative.
Nearest resistance levels: 1.0985, 1.1050, 1.1200, 1.1350, 1,1400, 1.1450, 1.1500
Nearest support levels: 1.0900, 1.0800, 1.0700, 1.0550
Currencies trading and British pound. The price of GBP/USD decreases along the upper boundary of the descending channel and can accelerate the fall in the near future and reach the support levels at 1.4080 and 1.4000. On the other hand, breaking through the upper boundary of the channel will be the basis for the continued upward price dynamics with targets at 1.4365 and 1.4500. Our medium-term outlook remains negative and we expect the fall today.
Nearest resistance levels: 1.4365, 1.4400, 1.4500, 1.4640, 1.4700, 1.4800
Nearest support levels: 1.4080, 1.4000, 1.3860, 1.3600, 1,3500
Currencies trading and Japanese yen. The price of USD/JPY shows the strong growth as a result of which has overcame the resistance level at 113.00 and in the near future is likely to rise to 114.70. In case of consolidation above this level, we recommend to open long positions with targets at 117.00, 118.80 and 121.50. The fall in the near future is limited by the level of 111.00. Our medium-term outlook is positive and we are waiting for confirmation of the signal to buy.
Nearest resistance levels: 114.70, 116.00, 118.80, 120.20, 121.50, 122.30
Nearest support levels: 113.00, 112,00, 111.00, 110.00
Currencies trading and Australian dollar. The price of AUD/USD continues gradual growth along the upper boundary of the rising channel. Within this increase quotations reached the level of 0.7500 and after overcoming it can continue the upward momentum to 0.7700. We with a high probability forecast change of mood and the resumption of the negative dynamics with the first targets at 0.7240 and 0.7120. Our medium-term outlook remains negative.
Nearest resistance levels: 0.7500, 0.7700
Nearest support levels: 0.7400, 0.7350, 0.7240, 0.7120, 0.7000, 0.6840, 0.6800, 0.6750
Currencies trading and New Zealand dollar. The price of NZD/USD was not able to continue the growth after approaching the level of 0.6820 and started to fall sharply. As a result, quotations approached to the level of 0.6600 and breaking through it will be the basis for further price decline with targets at 0.6450 and 0.6250. Despite the possibility of a minor correction after the sharp fall, we expect further decline in prices and recommend holding short positions.
Nearest resistance levels: 0.6800, 0.6900, 0.7000
Nearest support levels: 0.6600, 0,6560, 0.6450, 0.6400, 0.6320, 0.6250, 0.6200, 0.6000