12.05.2016 - Technical view

Currencies trading and euro. The price of EUR/USD continued to correct upwards after broke through an important resistance level at 1.1400. The next upside target level in case of continued current positive dynamics will be 1.1500. Our medium-term outlook remains negative and we expect a continuation of the negative dynamics of prices after fixing below 1.1400 with the first targets at 1.1200 and 1.1050.

Nearest resistance levels: 1.1500, 1,1620, 1,1750

Nearest support levels: 1.1400, 1.1200, 1.1050, 1.0985, 1.0900, 1.0800, 1.0700

Currencies trading and British pound. The price of GBP/USD continues to consolidate above the level of 1.4400 breaking through which will be the basis for the continuation of the negative dynamics of prices with the objectives at 1.4180 and 1.4050. On the other hand, a breaking of an important level of 1.4500 will cause the reaching of the next resistance level at 1.4670. Our forecast for next week remains negative.

Nearest resistance levels: 1.4500, 1.4670, 1.4850, 1,5000, 1,5150

Nearest support levels: 1.4400, 1.4040, 1.3840, 1.3600, 1,3500

Currencies trading and Japanese yen. The price of USD/JPY resumed growth after the recent price correction within which almost reached the level of 108.00. In case of continued upward momentum, the first target will be the levels of 109.75 and 111.00. Less likely is a continuation of the negative dynamics and in such case the price may retest the levels of 106.60 and 105.50. Our medium-term outlook remains negative.

Nearest resistance levels: 109,75, 111,00, 112,15, 113.00, 114.70, 116.00

Nearest support levels: 108,00, 106,60, 105,00, 103,40, 100,00

Currencies trading and Australian dollar. The price of AUD/USD after the recent correction of quotations to the level of 0.7400 has resumed decline, and therefore, we expect the price decline to 0.7240 and 0.7120 in the near future. The signal about the change of the local descending trend to the ascending will be fixing of price above the local maximum at 0.7400. Our medium-term outlook remains negative and we are waiting for the price reduction in the near future.

Nearest resistance levels: 0.7400, 0,7500, 0.7575, 0.7700, 0,7800, 0,6000

Nearest support levels: 0.7240, 0.7120, 0.7000, 0.6840

Currencies trading and New Zealand dollar. The price of NZD/USD corrected upward to the level of 0.6820 and at the moment it continues to consolidate around this level. In case of continued rising dynamics, quotations may reach the levels 0,6900-0,6940. We expect the resumption of negative dynamics in the near future and closing the gap. Our medium-term outlook remains negative with the objectives at 0.6450 and 0.6450.

Nearest resistance levels: 0,6940, 0.7050, 0.7200, 0.7400

Nearest support levels: 0,6760, 0,6575, 0.6450, 0.6400, 0.6320, 0.6250

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