12.10.2016 - Technical view

Currencies trading and euro. The price of EUR/USD has reached the target level of 1.1050 within the downward movement. In case of correction, quotations may return to the marks 1,1100-1,1140. Overcoming the level of 1.1050 will be the basis for the continuation of negative dynamics with the objectives at 1.0985 and 1.0850. Our medium-term outlook remains negative with a potential drop to 1.0700 and 1.0550, but we do not rule out a slight rebound of prices in the near future.

Nearest resistance levels: 1,1140, 1,1200, 1,1260, 1,1400, 1,1500, 1,1620, 1,1750

Nearest support levels: 1,1050, 1,0985, 1,0850, 1,0800, 1,0700, 1,0550

Currencies trading and British pound. The price of GBP/USD bounced upwards and was unable to gain a foothold below the important level of 1.2200. The growth in the near future is limited by the inclined line of resistance and the levels of 1,2500-1,2600. According to our forecasts, the price decline will resume in the near future with the first targets at 1.2000 and 1.1600. Our medium-term outlook also remains negative.

Nearest resistance levels: 1,2500, 1,2600, 1,2800, 1,3000, 1,3225, 1,3350, 1,3500, 1.3600

Nearest support levels: 1,2200, 1,2000, 1,1600, 1,1500

Currencies trading and Japanese yen. The price of USD/JPY is consolidating around the level of 103.50 and at the moment came close to the lower boundary of the rising channel. In case of breaking and overcoming the local minimum at 102.80, we expect a decline to 101.40 and 100.85. On the other hand, a more likely scenario, according to our estimates will be overcoming the level of 104.00 and a further increase of quotations to 105.00 and 106.40. Our medium-term outlook remains positive.

Nearest resistance levels: 105,00, 106,40, 108,00, 109,75, 111,00, 112,15

Nearest support levels: 103,50, 101,40, 100,00, 99,00, 98,60, 97,00

Currencies trading and Australian dollar. The price of AUD/USD showed an increase within the correction and may reach 0.7600 and the inclined line of resistance. According to our forecasts, the potential of the current correction is minimal and we expect the resumption of negative price dynamics in the near future and maintain the medium-term negative outlook with targets at 0.7450, 0.7320 and 0.7120.

Nearest resistance levels: 0,7600, 0,7700, 0,7800, 0,8000

Nearest support levels: 0,7500, 0,7450, 0,7320, 0,7250, 0,7120, 0,7000

Currencies trading and New Zealand dollar. The price of NZD/USD rebounded from the support level at 0.7050 and may reach the upper limit of the local downward channel after which may continue the growth to the level of 0.7200, fixing below which became a signal to sell. According to our estimates, the decline will continue in the near future, and we maintain a medium-term negative outlook with targets at 0.6820, 0.6600 and 0.6450.

Nearest resistance levels: 0,7130, 0,7200, 0,7320, 0,7400, 0,7500

Nearest support levels: 0,7050, 0,6940, 0,6820, 0,6720, 0,6600, 0,6450

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