11.11.2015 - Technical view
Currencies trading and euro. The price of EUR/USD could not continue to fall, and after reaching support at 1.0700 started to correct upwards. The growth in the near future is limited by the levels of 1.0800 and 1.0900, and the upper limit of the downward channel. In case of continued negative dynamics and overcoming the level of 1.0700, we expect a further decline to 1.0500. Our medium-term outlook remains negative and we recommend holding short positions.
Nearest resistance levels: 1.0800, 1.0900, 1.1000, 1.1100, 1.1200, 1.1350, 1.1450, 1.1500
Nearest support levels: 1.0700, 1.0550, 1.0500, 1.0450
Currencies trading and British pound. The price of GBP/USD grew upwards within the correction and approached to the resistance level at 1.5200. In case of overcoming it and fixing the price above this mark, we expect price growth to 1.5350. It is worth noting that at the moment there is a high probability of renewal of negative dynamics of price with a potential drop to 1.5000 and 1.4800. Our medium-term outlook remains negative.
Nearest resistance levels: 1.5200, 1.5250, 1.5350, 1.5500, 1.5675, 1.5700, 1.5800, 1.5900
Nearest support levels: 1.5000, 1.4800, 1.4700
Currencies trading and Japanese yen. The price of USD/JPY decreases after an unsuccessful attempt to fix above the level of 123.00. Currently quotes are near the upper boundary of the rising channel and the return to its boundaries may lead to the continuation of negative dynamics of price with the potential fall to 121.50 and the lower boundary of the channel. Our medium-term outlook remains positive, and we expect continued growth in the near future, after the current fall.
Nearest resistance levels: 123.00, 124.50, 125.00, 125.70, 128.00, 130.00
Nearest support levels: 121.50, 120.50, 119.00, 118.50, 118.00, 117.00
Currencies trading and Australian dollar. The price of AUD/USD showed an increase and approached the level of 0.7080. Further growth of price is limited by the upper limit of the downward channel. In the near future quotations may resume fall and reach the psychologically important mark at 0.7000 and continue the decline to the levels 0.6900 and 0.6800. Our medium-term outlook remains negative and we recommend holding short positions.
Nearest resistance levels: 0.7200, 0.7300, 0.7400, 0.7500, 0.7600, 0.7700, 0.7800
Nearest support levels: 0.7000, 0.6900, 0.6750, 0.6600, 0.6500
Currencies trading and New Zealand dollar. The price of NZD/USD rebounded from the level of 0.6500 and returned to the downward channel. In case of continued upward trend, quotations may return to the marks 0.6600 and 0.6700. We still recommend holding short position with a stop above the local maximum at 0.6650 and objectives of 0.6250 and 0.6000. Our medium-term outlook remains negative.
Nearest resistance levels: 0.6650, 0.6700, 0.6800, 0.6900, 0.7000, 0.7200
Nearest support levels: 0.6500, 0.6450, 0.6400, 0.6320, 0.6250, 0.6200