12.01.2016 - Technical view
Currencies trading and euro. The price of EUR/USD reduced to the level of 1.0850 and the upper boundary of the descending channel, which the price has left previously. It is worth noting that the quotes were not able to reach the resistance level at 1.0985 and resumed falling. In the near future quotes may fall to 1.0800 and continue descending dynamics to 1.0700. The increase within the correction is limited by the levels 1,0985-1,1000. Our medium-term outlook remains negative and we recommend accumulating short positions.
Nearest resistance levels: 1.0900, 1,0985, 1.1050, 1.1080, 1.1200, 1.1350, 1.1450
Nearest support levels: 1.0800, 1.0700, 1.0550, 1.0500, 1.0450, 1.0200
Currencies trading and British pound. The price of GBP/USD after a minor correction resumed its decline and approached the support at 1.4500. A breaking of this level will cause further reduction of quotations with the potential of reaching the levels 1.4260 and 1.4000. In case of the beginning of correction and fixing of the price above the sloping line of resistance, we expect continued growth to 1.4700 and 1.4800. Our medium-term outlook remains bearish.
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 stabilized above the level of 117.00 and in case of breaking through the upper boundary of the local descending channel, and fixing the price above 118.00, we recommend to open long positions with the stop below 117.00 and objectives at 119.00, 120.20 and 121.50. Overcoming the support at 117.00, will be the basis for further decline to 116.00. Our medium-term outlook remains positive, and we are waiting for the signal for opening long positions.
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 slowed down the fall and currently is consolidating around the levels of 0.7000. In case of the continuation of the negative dynamics, the nearest target levels will be 0.6900 and 0.6800. It is worth noting that the increase is limited by the levels near 0.7100. We expect a continuation of the negative dynamics of prices in the near future, but do not rule out upward correction in the near future.
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 showed a minor correction, which can last up to an inclined line of resistance and the level at 0.6600. Our medium-term outlook is negative and we are waiting for the resumption of the negative dynamics with targets at 0.6450 and 0.6250.
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