11.01.2016 - ​Technical view

Currencies trading and euro. The price of EUR/USD continued growth after consolidation above the level of 1.0800 and approached the resistance level at 1.0985. In case of its overcoming, quotations may continue to rise to 1.1050. On the other hand, at the moment there is the possibility of renewed negative dynamics of price with the potential of reaching 1,0800 and 1,0700. We expect the resumption of fall of quotations in the near future and maintain the medium-term negative outlook.

Nearest resistance levels: 1.1050, 1.1080, 1.1200, 1.1350, 1.1450

Nearest support levels: 1.0900, 1.0800, 1.0700, 1.0550, 1.0500, 1.0450, 1.0200

Currencies trading and British pound. The price of GBP/USD continued to fall after overcoming the level of 1.4600 and reached the psychologically important level of 1.4500. In the near future we may see a correction of price to the inclined resistance line. Despite the decline in the potential for reducing the in the near future, we keep a medium-term negative outlook on the British pound.

Nearest resistance levels: 1.4600, 1.4700, 1.4800, 1.5000, 1.5200, 1.5250, 1.5300, 1.5500

Nearest support levels: 1.4500, 1.4260, 1.4000

Currencies trading and Japanese yen. The price of USD/JPY continued to fall and reached the target level of 117.00, its overcoming will lead to further reduction the price to 116.00. In case of rebound from 117.00, quotes will probably return to the level of 119.00. We expect the resumption of growth in the near future and maintain the medium-term positive outlook.

Nearest resistance levels: 118.00, 119.00, 120.20, 120.60, 121.50, 122.30, 123.60, 124.50

Nearest support levels: 117.00, 116,00

Currencies trading and Australian dollar. The price of AUD/USD continued to fall and reached the support at 0.6935. It is worth noting that fixing of quotations below 0,7000 is a clear signal for the continuation of the negative dynamics of price to 0.6800. On the other hand, in the near future we may see a correction to 0,7000-0,7050. Our medium-term outlook remains negative and we still recommend holding short positions.

Nearest resistance levels: 0.7000, 0.7080, 0.7150, 0.7200, 0.7300, 0.7400, 0.7500, 0.7600

Nearest support levels: 0.6900, 0.6750, 0.6600

Currencies trading and New Zealand dollar. The price of NZD/USD after some consolidation above the level of 0.6600, showed a sharp decline and approached 0.6500. According to our estimates, quotes will continue to decline to 0.6450 and 0.6250 in the near future. Correction of prices in the near future is limited by resistance at 0.6600 above which we recommend to keep the stop. Our medium-term outlook is negative and we recommend holding short positions.

Nearest resistance levels: 0.6600, 0.6700, 0.6800, 0.6900, 0.7000, 0.7200

Nearest support levels: 0.6500, 0.6450, 0.6400, 0.6320, 0.6250

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