12.11.2015 - Technical view
Currencies trading and euro. The price of EUR/USD continues to consolidate within the range 1,0700-1,0800 and moves inside the descending channel. The growth of quotations in the near future is limited by the upper boundary and the strong resistance at 1.0900. Overcoming the support level at 1.0700 will be the cause for the continuation of the downward movement to target levels at 1,0500-1,0550. Our medium-term outlook remains negative and we recommend holding short positions with a stop above 1.0900.
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 shows steady growth within which was able to overcome the level of 1.5200 and reached another resistance at 1.5250. In the near future the price growth may continue until the sloping line of resistance and important level of 1.5350. Our medium-term outlook remains negative outlook remains unchanged.
Nearest resistance levels: 1.5250, 1.5350, 1.5500, 1.5675, 1.5700, 1.5800, 1.5900
Nearest support levels: 1.5200, 1.5000, 1.4800, 1.4700
Currencies trading and Japanese yen. The price of USD/JPY continues to decline gradually and currently is consolidating around the level of 123.00. In connection with the return of price inside the rising channel, quotations may continue to fall to its lower border and support at 121.50. Despite the risk of falling in the near future, we maintain medium-term a negative outlook.
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 has shown strong growth and reached the upper limit of the downward channel and important level of 0.7150. A further price increase is limited by the resistance level at 0.7200. At the moment, there is the possibility of renewed negative dynamics of price with the objectives at 0.7080 and 0.7000. We expect the resumption of the negative dynamics in the near future and maintain the medium-term negative outlook.
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 continues to move along the bottom of the descending channel and in the near future may continue to drop to 0,6400-0,6450. Raising price is possible up to a resistance level at 0.6600 and the upper limit of the downward channel. We still recommend holding short positions with the targets near 0,6200-0,6250 and maintain the medium-term negative outlook.
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