12.08.2015 - Technical view
Currencies trading and euro. The price of EUR/USD broke through the upper limit of the downward channel and reached the resistance level at 1.1080. In case of continued growth and overcoming this resistance, quotes will continue to rise and will reach the next target level at 1.1200. We expect the resumption of the negative dynamics of prices in the near future with the objectives at 1.0850, 1.0700 and 1.0550. Our medium-term outlook remains negative.
Nearest resistance levels: 1.1080, 1.1150, 1.1250, 1.1400, 1.1450, 1.1500
Nearest support levels: 1.1000, 1.0900, 1.0800, 1.0700, 1.0550
Currencies trading and British pound. The price of GBP/USD after reaching the level of 1.5600, and some price consolidation near this level, resumed the negative dynamics and in the near future may continue to fall to the target levels at 1.5460 and 1.5350. The upward movement of prices is limited by a strong resistance level at 1.5675. According to our estimates, the decline will continue in the near future and our medium-term outlook is 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 continued the growth inside the rising channel, and was able to overcome the psychologically important resistance level at 125.00. In case of fixation of quotations above this mark, we expect further growth to the target levels at 128.00 and 130.00. The breaking of support at 124.00, will lead to lower prices to 123.00 and 121.50. Our medium-term outlook remains positive, and we expect continued growth in the near future.
Nearest resistance levels: 125.70, 128.00, 130.00
Nearest support levels: 125.00, 124.50, 123.00, 122.00, 121.50, 120.20, 119.00, 118.50
Currencies trading and Australian dollar. The price of AUD/USD after reaching the inclined resistance line started to correct downwards. As a result of a strong decline, quotes have broken the support level at 0.7260. In this regard, we expect a further fall in prices to the levels of 0.7200 and 0.7000. Correction of prices is possible only to a level of 0.7400. Our medium-term negative outlook remains unchanged and we recommend holding short positions.
Nearest resistance levels: 0.7260, 0,7400, 0.7500, 0.7600, 0.7700, 0.7800, 0.7840, 0.7900
Nearest support levels: 0.7200, 0.7000
Currencies trading and New Zealand dollar. The price of NZD/USD updated local minimum and reached its lowest level in 6 years. In case of upward correction, quotations may return to the slanting line of resistance and the level of 0.6600. It should be noted that the penetration level of 0.6500 will be the basis for the continuation of the downward movement of price to the levels 0.6200 and 0.6000. Our medium-term outlook remains negative.
Nearest resistance levels: 0.6500, 0.6600, 0.6700, 0.6800, 0.6850, 0.7000, 0.7080, 0.7200
Nearest support levels: 0.6360, 0.6200, 0.6000