11.08.2015 - Technical view
Currencies trading and euro. The price of EUR/USD reached the upper boundary of the downward channel, but could not overcome it and started to correct downwards. In case of breaking through the boundary of the channel, quotes will continue to rise to 1.1080, but according to our forecasts, in the near future prices will continue to fall to the local minimum near 1.0850, and then the decline will continue to 1.0700 and 1.0550. Our medium-term outlook is negative and we recommend holding short positions.
Nearest resistance levels: 1.1000, 1.1080, 1.1150, 1.1250, 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 have shown strong growth and reached the lower boundary of the triangle, which the price has left earlier. Currently quotes stabilized near the level of 1.5600, and may continue to rise to 1.5675. The breaking of this level is unlikely. According to our estimates, quotes will continue to fall in the near future to target levels at 1.5460 and 1.5350. Our medium-term outlook remains negative.
Nearest resistance levels: 1.5550, 1.5675, 1.5700, 1.5800, 1.5900, 1.6000
Nearest support levels: 1.5460, 1.5350, 1.5200, 1.5000, 1.4700
Currencies trading and Japanese yen. The price of USD/JPY could not continue the downward movement after breaking through the lower boundary of the rising channel and approached the psychologically important level of resistance at 125.00. In case of breaking through support at 124.00, the price will continue to decline to 123.00, a breaking of which will be the basis for opening short positions with the targets at 121.50 and 120.20. We expect growth of price in the medium term and recommend to open long positions after fixing above 125.00.
Nearest resistance levels: 124.50, 125.00, 125.70, 128.00, 130.00
Nearest support levels: 123.00, 122.00, 121.50, 120.20, 119.00, 118.50, 117.40
Currencies trading and Australian dollar. The price of AUD/USD was not able to gain a foothold above the important level of 0.7400 and resumed falling. In the near future quotes will probably continue to decline to a strong support level at 0.7260, after overcoming of which will continue to show a negative trend, reaching the target levels at 0.7200 and 0.7000. We forecast a drop in the medium term, but probably will see consolidation within the corridor 0,7250-0,7450.
Nearest resistance levels: 0,7400, 0.7500, 0.7600, 0.7700, 0.7800, 0.7840, 0.7900, 0.8000
Nearest support levels: 0.7260, 0.7200, 0.7000
Currencies trading and New Zealand dollar. The price of NZD/USD after consolidation near the level of 0.6600, started to decline and in the near future will reach the support at 0.6500. Within the correction rise is possible to 0.6600 and 0.6700. We expect a continuation of the downward movement of price in the medium term after fixing of quotations below 0.6500. Our medium-term outlook remains negative.
Nearest resistance levels: 0.6600, 0.6700, 0.6800, 0.6850, 0.7000, 0.7080, 0.7200, 0.7260
Nearest support levels: 0.6500, 0.6360, 0.6200, 0.6000