14.07.2015 - Technical view
Currencies trading and euro. The price of EUR/USD showed confident decline yesterday and reached an important level of 1.1000. In case of continued downward movement, we expect reaching the level of 1.0900 in the near future. Within the correction, quotations can return to the level of 1.1200, but its penetration is unlikely. We maintain a medium-term negative outlook for the euro.
Nearest resistance levels: 1.1080, 1.1150, 1.1250, 1.1400, 1.1450, 1.1500, 1.1620
Nearest support levels: 1.1000, 1.0900, 1.0800, 1.0550
Currencies trading and British pound. The price of GBP/USD began to decline after failed to move beyond the descending channel and gain a foothold above the important level of 1.5500. According to our estimates, quotes will continue to fall in the near future to the target level of 1.5350, and then may fall to 1.5200. On the other hand, a signal of a change of the local trend to positive will be price fixing above 1.5630. Our medium-term outlook remains negative.
Nearest resistance levels: 1.5500, 1.5600, 1.5700, 1.5800, 1.5900, 1.6000
Nearest support levels: 1.5350, 1.5200, 1.5000, 1.4700
Currencies trading and Japanese yen. The price of USD/JPY has shown strong growth after breaking through an important inclined resistance line and is consolidating near the level of 123.50. In case of continued growth, quotations with a high probability will reach the targets at 124.25 and then may rise to 125.00 and 125.70. In case of correction, quotes will drop to 122.50, 121.50 and 120.20. We keep medium-term positive outlook.
Nearest resistance levels: 122.00, 123.75, 124.25, 125.00, 125.70, 128.00, 130.00
Nearest support levels: 121.50, 120.20, 119.00, 118.50, 117.40
Currencies trading and Australian dollar. The price of AUD/USD reached the level of 0.7400, but failed to overcome it and rebounded upwards. At the moment, the price increase is limited by the upper boundary of the descending channel. In case of its breaking, we expect continued growth in prices to the level of 0.7500. On the other hand more likely is a continuation of the downward movement and overcoming the mark 0.7400, will be the reason for the fall of prices to the level of 0.7200. Our medium-term outlook is negative
Nearest resistance levels: 0.7500, 0.7600, 0.7700, 0.7800, 0.7840, 0.7900, 0.8000, 0.8200
Nearest support levels: 0.7400, 0.7200, 0.7000
Currencies trading and New Zealand dollar. The price of NZD/USD continues to decrease gradually along the upper boundary of the descending channel. According to our forecast, the price decline will continue in the near future to the level of 0.6600. Within the correction, quotations may grow up to 0.6800. Our medium-term outlook remains negative and we see no reason to change the trend in the near future.
Nearest resistance levels: 0.6700, 0.6800, 0.6850, 0.7000, 0.7080, 0.7200, 0.7260, 0.7300
Nearest support levels: 0.6600, 0.6500, 0.6360