11.05.2015 - Technical view
Currencies trading and euro. The price of EUR/USD broke through the lower boundary of the rising channel, and soon reached a local maximum near 1.1100. A break and consolidation below this price level will be the basis for opening short positions with the potential of falling to 1.0900, 1.0700 and 1.0550. Growth is limited by resistance levels at 1.1280 and 1.1400. Our medium-term outlook remains negative and we are waiting for the confirmation of the signal to sell.
Nearest resistance levels: 1.1280, 1.1450, 1.1500, 1.1620
Nearest support levels: 1.1100, 1.1050, 1.1000, 1.0900, 1.0800, 1.0550, 1.0500
Currencies trading and British pound. The price of GBP/USD reached the psychologically important level of 1.5500, but failed to gain a foothold above it, and at the moment is corrected downwards. The breaking of the support level at 1.5350 will be the cause for the continuation of the negative dynamics of prices with the objectives at 1.5100 and 1.5000. For the continuation of growth quotations need to gain a foothold above the level of 1.5500. We maintain a medium-term negative view on the British currency.
Nearest resistance levels: 1.5500, 1.5550, 1.5600
Nearest support levels: 1.5350, 1.5200, 1.5100, 1.5000, 1.4700, 1.4600, 1.4500
Currencies trading and Japanese yen. The price of USD/JPY keeps moving within a range 118,50-120,50. For the continuation of growing, quotations must be secured above the level of 120.00, and in such case is possible the increase of price to 121.00 and 122.00. A drop in prices is limited by a strong level of support at 118.50, a breaking of which in the near future is unlikely. Our medium-term outlook remains positive, but sideways movement is likely to continue in the near future.
Nearest resistance levels: 120.00, 121.00, 122.00, 125.00
Nearest support levels: 119.50, 118.50, 117.40, 116.00, 115.00, 114.00
Currencies trading and Australian dollar. The price of AUD/USD moves near the mark of 0.7900 and currently is trying to break through the inclined level of support. According to our estimates, there is a strong possibility of price reduction to the level of 0.7800, after which quotations may drop to 0.7700 and 0.7550. Our medium-term outlook remains negative and we are waiting for the confirmation of the signal for opening short positions.
Nearest resistance levels: 0.8000, 0.8040, 0.8200, 0.8250
Nearest support levels: 0.7900, 0.7800, 0.7700, 0.7600, 0.7550, 0.7500, 0.7200
Currencies trading and New Zealand dollar. The price of NZD/USD fixed below the level 0.7500 and could not break through the upper boundary of the descending channel and has started to fall within the downward channel. The breaking of the level of 0.7400 will be the basis for the continuation of falling of the price to 0.7200. We recommend to keep short positions with the target at 0.7200 and the stop above 0.7500.
Nearest resistance levels: 0.7400, 0.7500, 0.7620, 0.7700, 0.7740, 0.7800, 0.7850
Nearest support levels: 0.7310, 0.7200, 0.7000