18.03.2016 - Technical view
Currencies trading and euro. The price of EUR/USD was able to overcome an important resistance level at 1.1200 and continued upward movement during which approached to a range 1,1350-1,1400. The potential for further growth declined significantly and in the near future we are likely to see the resumption of the negative dynamics with the fall potential to 1.0985 and 1.0800. Our medium-term outlook remains negative and we are waiting for the change of the current upward impulse to negative in the near future.
Nearest resistance levels: 1.1350, 1.1400, 1.1450, 1.1500
Nearest support levels: 1.1200, 1.1050, 1.0985, 1.0900, 1.0800, 1.0700, 1.0550
Currencies trading and British pound. The price of GBP/USD within the strong upward momentum approached the important resistance level at 1.4500. Fixing the price above this mark will be the reason for the continued growth to 1.4700 and 1.4850. According to our estimates, quotes will correct downwards in the near future with potential targets at 1.4365 and 1.4080. In case of opening short positions, the stop should be set above the level of 1.4500. Our medium-term outlook remains negative.
Nearest resistance levels: 1.4365, 1.4400, 1.4500, 1.4640, 1.4700, 1.4800
Nearest support levels: 1.4080, 1.4000, 1.3860, 1.3600, 1,3500
Currencies trading and Japanese yen. The price of USD/JPY has fallen to the important level of support at 111.00 and is currently consolidating around this mark. For the fixing of price below this level is needed a strong boost. At the moment, there is a possibility to open long positions with a short stop below 111.00 and target levels at 114.70, 117.00 and 118.80. In case of continued decline, the prices may fall to 110.00 and 108.00. Our medium-term outlook remains negative.
Nearest resistance levels: 113.00, 114.70, 116.00, 118.80, 120.20, 121.50, 122.30
Nearest support levels: 111,00, 110,00, 108,00
Currencies trading and Australian dollar. The price of AUD/USD could not break through the support level at 0.7400 and renewed growth during which approached the inclined resistance line. In the near future quotations may reach the resistance levels at 0.7700 and 0.7800. On the other hand, we see the potential for the drop in prices with the first targets at 0.7500 and 0.7400. Our medium-term outlook remains negative despite the current growth, which may continue in the near future.
Nearest resistance levels: 0.7700, 0,7800, 0,6000
Nearest support levels: 0.7500, 0.7400, 0.7350, 0.7240, 0.7120, 0.7000, 0.6840, 0.6800
Currencies trading and New Zealand dollar. The price of NZD/USD has shown a strong upward impulse and as a result broke through the strong resistance level at 0.6800. This fact is the basis for the continuation of the upward price movement to the level of 0.6900 and 0.7000. On the other hand it is worth noting the significant potential for reducing of quotations in the near future with the objectives at 0.6750 and 0.6600. Our medium-term outlook is pessimistic, and the price may fall in the near future.
Nearest resistance levels: 0.6900, 0.7000
Nearest support levels: 0.6800, 0.6600, 0,6560, 0.6450, 0.6400, 0.6320, 0.6250, 0.6200