11.03.2015 - Technical view

The price of EUR/USD shows a steady decline after reached the target level of 1.0800 and continued the downward movement. According to our forecasts the price may continue downward movement in the near future within the local descending channel. The target level in such a case will be 1.0500 and 1.0400. In case of correction, quotations may grow up to 1.0900. We maintain our medium-term negative outlook and recommend holding short positions with a stop above 1.1000.

Nearest resistance levels: 1.0800, 1.0900, 1.1000, 1.1100, 1.1280, 1.1450, 1.1500, 1.1620

Nearest support levels: 1.0500, 1.0400, 1.0100

The price of GBP/USD stabilized near the levels 1,5050-1,5100 and is currently close to the upper border of the downward channel. A further fall in prices is limited by an important support level at 1.5000. A signal to buy will be breaking through the upper boundary of descending channel and fixing the price above the local maximum near 1.5150. The potential for further drop significantly reduced. We recommend to wait for the new signals for opening positions.

Nearest resistance levels: 1.5150, 1.5200, 1.5300, 1.5350, 1.5500, 1.5550, 1.5750, 1.5800

Nearest support levels: 1.5000

The price of USD/JPY reached the target level of 122.00, but could not overcome it and corrected to the upper boundary of the rising channel. Fixing the price above this level is the basis for the continued growth of quotations. Signal of trend reversal to downward will be price fixing below 119.50. We maintain our positive outlook for the medium-term and recommend holding long positions with the upside potential to 124.00 and 125.00.

Nearest resistance levels: 122.00, 125.00

Nearest support levels: 120.50, 119.50, 118.50, 117.40, 116.00, 115.00, 114.00

The price of AUD/USD reached the target level of 0.7600. In the case of continuation of the current downward momentum, quotes will reach 0.7500. In case of correction, the price may rise to 0.7660 and 0.7740. According to our estimates the price decline will continue in the near future and in the medium term. We still recommend holding short positions.

Nearest resistance levels: 0.7650, 0.7740, 0.7840, 0.8000, 0.8040, 0.8200, 0.8250, 0.8360

Nearest support levels: 0.7600, 0.7500

The price of NZD/USD continues a steady decline within within the local descending channel. According to our estimates, the current trend will continue in the near future untill reaching the target level of 0.7200. In case of correction, quotations, will reach the level of 0.7340. We recommend holding short positions with the targets 0.7200 and 0.7000, and see no reason to change the current downtrend. Our medium-term outlook remains negative.

Nearest resistance levels: 0.7340, 0.7440, 0.7500, 0.7570, 0.7620, 0.7700, 0.7800, 0.7850

Nearest support levels: 0.7200, 0.7000

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