16.11.2015 - Technical view

Currencies trading and euro. The price of EUR/USD has dropped to a strong support level at 1.0700, but continues to consolidate above it. Growth of price is limited by the upper boundary of the descending channel and its overcoming will lead to continuation of the upward price movement to the levels of 1.0900 and 1.1000, but this scenario according to our forecasts is unlikely. Overcoming the support at 1.0700, will cause a further decline to 1.0550 and 1.0500. We recommend keeping short positions and maintain the medium-term negative outlook.

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 moves around a strong level of 1.5200. Currently quotes are near angled support and resistance lines, and overcoming one of them will be the reason for continued growth to 1.5350 or fall to 1.5100 and 1.5000. According to our estimates, more likely is a continuation of the negative dynamics of prices and we are waiting for the decline in the near future. Our medium-term outlook is negative.

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 within the local downtrend channel and in case of the continuation of such dynamics will fall to 121.50 or lower boundary of the medium-term rising channel in the near future. We with a high probability expect a resumption of growth in price after the current correction. Our medium-term outlook also remains positive.

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 could not overcome the resistance level at 0.7150 and the upper boundary of the channel and will continue to fall within the channel. In the near future quotes probably will reach support at 0.7080, and then decline to 0.7000 and 0.6900. The growth is limited by the borders of the channel in the case of penetration of which the price can rise to 0.7200. Our medium-term outlook remains negative and we recommend holding short positions with a stop above 0.7200.

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 keeps consolidating between the lower boundary of the descending channel, which the price has left before and the level of support at 0.6500. Return of price to frames of the channel will lead to the rise up to its upper limit. On the other hand, breaking through support at 0.6500 will be the basis for the continuation of the negative dynamics of price with the first target at 0.6250. We recommend holding short positions and forecast decline in the medium term.

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, 0.6200

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