16.03.2015 - Technical view

The price of EUR/USD after some consolidation near the level of 1.0600, renewed drop in the descending channel and currently is trying to gain a foothold below the level 1.0500, which will be the basis for the continuation of the downward price movement with the potential of fall to 1.0400 and 1.0000. In case of correction, quotations may grow up to 1.0700 and 1.0900. Our medium-term outlook remains negative and we recommend holding short positions.

Nearest resistance levels: 1.0700, 1.0900, 1.1000, 1.1100, 1.1280, 1.1450, 1.1500, 1.1620

Nearest support levels: 1.0500, 1.0400, 1.0100

The price of GBP/USD continued to drop after overcoming the level of 1.4900 and at the moment is corrected upwards after a rebound from the target level of 1.4700. In case of continued upward correction, quotations may grow up to 1.4900 and 1.5000. Signal of changing of the local negative trend to positive, will be fixation above the level of 1.5000. Our short-term outlook remains negative and we recommend holding short positions with the potential of fall to 1.4500.

Nearest resistance levels: 1.4900, 1.5000, 1.5150, 1.5200, 1.5300, 1.5350, 1.5500, 1.5550

Nearest support levels: 1.4700, 1.4500

The price of USD/JPY keeps consolidating above the upper boundary of a rising channel and the level of 121.50. For the continuation of ascending movement, the price needs to overcome the level of 122.00. In this case, quotations may reach 124,00 and 125.00. In case of a fall, a signal of a trend change will be fixation of quotations below 119.50. We recommend holding long positions with the potential of growth of quotations to 125.00 and stop below 119.50. Our medium-term outlook also remains negative.

Nearest resistance levels: 122.00, 125.00

Nearest support levels: 120.50, 119.50, 118.50, 117.40, 116.00, 115.00, 114.00

Forcast for April 2015

The price of AUD/USD shows a slight increase within the upward correction. In case of continued current ascending movement, quotations may reach the level of 0.7700 and 0.7750. More likely is the resumption of the downward price movement with the target at 0.7500. We continue to recommend holding short positions with a stop above 0.7900 and objectives at 0.7500 and 0.7200. Our medium-term view also remains negative.

Nearest resistance levels: 0.7750, 0.7900, 0.8000, 0.8040, 0.8200, 0.8250, 0.8360

Nearest support levels: 0.7600, 0.7500, 0.7200

The price of NZD/USD corrected upwards and at the moment tries to approach the level of 0.7400. Further growth is limited by a strong resistance level at 0.7440 and 0.7500. According to our forecasts, prices will continue to fall in the near future and quotes will reach 0.7200. Our medium-term outlook remains negative with the potential of drop to 0.7000.

Nearest resistance levels: 0.7440, 0.7500, 0.7570, 0.7620, 0.7700, 0.7800, 0.7850

Nearest support levels: 0.7340, 0.7200, 0.7000

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