19.01.2016 - Technical view
Currencies trading and euro. The price of EUR/USD has stabilized around the level of 1.0900 and currently approached the inclined support line and can be corrected upwards from it to 1,0985-1,1000. The breaking of this line and fixation lower than the local minimum at 1.0850 will be a signal to sell with the objectives at 1.0800, 1.0700 and 1.0550. We maintain a medium-term negative outlook, but today we can see the growth of price.
Nearest resistance levels: 1,0985, 1.1050, 1.1080, 1.1200, 1.1350, 1.1450
Nearest support levels: 1.0900, 1.0800, 1.0700, 1.0550, 1.0500, 1.0450, 1.0200
Currencies trading and British pound. The price of GBP/USD declines within the downward channel and now is consolidating around level of 1.4260. Nearest target level is 1.4000. Given the strong decline in prices in recent weeks, we expect to see a correction in the near future. In this case, quotes can break through the upper boundary of a descending corridor and return to the levels of 1.4400 and 1.4500. Our medium-term outlook remains negative.
Nearest resistance levels: 1.4400, 1.4500, 1.4600, 1.4700, 1.4800, 1.5000, 1.5200, 1.5250
Nearest support levels: 1.4260, 1.4000
Currencies trading and Japanese yen. The price of USD/JPY was unable to gain a foothold below 117.00 and corrected upwards. Within the growth, quotations broke through the upper limit of the downward channel and overcoming the local maximum at 118.40 will confirm the signal for opening long positions with the targets at 120.20, 121.50 and 122.30. In case of resumption of decline, the price may fall to 116.00. Our medium-term outlook remains positive, and we are waiting for a signal to buy.
Nearest resistance levels: 118.40, 119.00, 120.20, 120.60, 121.50, 122.30, 123.60, 124.50
Nearest support levels: 117.00, 116,00
Currencies trading and Australian dollar. The price of AUD/USD today showed growth and approached the level of resistance at 0.6900 and the upper boundary of the downward channel. In case of breaking through these levels increase in price may continue to 0,7000-0,7050. We expect the decline in prices in the medium term, but do not exclude the correction in the near future.
Nearest resistance levels: 0.7000, 0.7050, 0.7150, 0.7200, 0.7300, 0.7400, 0.7500, 0.7600
Nearest support levels: 0.6900, 0.6750, 0.6600
Currencies trading and New Zealand dollar. The price of NZD/USD continues to consolidate inside the rising channel and the increase in price at the moment is limited by the upper limit of the downward channel. In case of further decrease and breaking of 0.6400 the target level will be 0.6250. Our medium-term outlook remains negative and we recommend holding short positions with a stop above 0.6600.
Nearest resistance levels: 0.6450, 0.6500, 0.6600, 0.6700, 0.6800, 0.6900, 0.7000, 0.7200
Nearest support levels: 0.6400, 0.6320, 0.6250