13.01.2016 - Technical view
Currencies trading and euro. The price of EUR/USD continued to decline along the upper boundary of the descending channel which the price has left earlier. At the moment, the price approached the level of 1.0800 and soon may continue to decline and reach the target levels at 1.0700 and 1.0500. The growth in the near future is limited by the resistance levels at 1,0900-1,0940. We expect a decline in the medium term and recommend holding 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 broke through the support level at 1.4500 and reached the inclined support line, but could not overcome it and corrected upwards. Within the correction quotes may reach the level of 1.4600 and a sloping resistance line. We expect a further decline in prices in the near future and medium term with the target at 1.4000.
Nearest resistance levels: 1.4500, 1.4600, 1.4700, 1.4800, 1.5000, 1.5200, 1.5250, 1.5300
Nearest support levels: 1.4400, 1.4260, 1.4000
Currencies trading and Japanese yen. The price of USD/JPY broke through the upper limit of the local descending channel and overcame 118,00. In case of continued growth quotes will continue the upward movement to 119,00 and 120,20. Fixation above 118.00 will be a signal to buy with the stop below 117.00. We expect growth of quotations in the near future and medium term and we recommend waiting for the confirmation of a buy signal.
Nearest resistance levels: 119.00, 120.20, 120.60, 121.50, 122.30, 123.60, 124.50
Nearest support levels: 118.00, 117.00, 116,00
Currencies trading and Australian dollar. The price of AUD/USD corrected upwards within the descending channel and approached its upper boundary. In case of continued negative dynamics, the nearest target levels will be 0.6900 and 0.6800. It should be noted that a further increase within the correction is possible to 0.7100. We maintain a negative medium-term outlook for the Australian dollar.
Nearest resistance levels: 0.7080, 0.7150, 0.7200, 0.7300, 0.7400, 0.7500, 0.7600
Nearest support levels: 0.7000, 0.6900, 0.6750, 0.6600
Currencies trading and New Zealand dollar. The price of NZD/USD broke through the inclined resistance line, but could not continue to grow to the level of 0.6600. Overcoming this level will be a signal for fixing short positions. At the moment, we expect a continuation of negative dynamics of price with immediate targets at 0.6450 and 0.6250. Our medium-term outlook remains negative and we recommend holding short positions.
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