19.02.2016 - Technical view

Currencies trading and euro. The price of EUR/USD continues to fall within the local descending channel. In the near future quotations will likely continue to downfall with the closest targets at 1.1050 and 1.0985. The rising price correction is limited by the level of resistance at 1.1200. We forecast a drop in the near future and medium term with targets at 1.0800 and 1.0700.

Nearest resistance levels: 1.1200, 1.1350, 1,1400, 1.1450, 1.1500, 1.1750

Nearest support levels: 1.1080, 1.1050, 1.0985, 1.0900, 1.0800, 1.0700, 1.0550

Currencies trading and British pound. The price of GBP/USD has resumed the fall after the correction to the resistance level at 1.4365. The current descending dynamics may continue in the near future with the closest targets at 1.4200, 1.4080 and 1.4000. According to our estimates, the price decline will continue in the near future within the descending channel, and in the medium term.

Nearest resistance levels: 1.4365, 1.4400, 1.4500, 1.4640, 1.4700, 1.4800, 1.5000, 1.5200

Nearest support levels: 1.4080, 1.4000, 1.3860, 1.3600

Currencies trading and Japanese yen. The price of USD/JPY after some consolidation above the level of 113.60, began to decline and at the moment is located around the level of 113.00. In case of further decline, the price will drop to 112.00 and 111.00. According to our forecasts, the fall of prices in the near future will change to a positive trend and confirmation of the signal to buy with the objectives at 118.80 and 121.50 will be price fixing above the level of 114.70.

Nearest resistance levels: 113.60, 114.70, 116.00, 118.80, 120.20, 121.50, 122.30, 123.60

Nearest support levels: 113.00, 112.60, 111.00, 110.00

Currencies trading and Australian dollar. The price of AUD/USD after an unsuccessful attempt to break through the resistance level at 0.7180, started to decline and in the near future may be reduced to 0.7050. In case of opening short positions, the stop should be set above the level of 0.7200. In this case, the target levels will be 0,6800-0,6840. Our medium-term outlook remains negative and we expect a fall in the near future.

Nearest resistance levels: 0.7180, 0.7350, 0.7400, 0.7500

Nearest support levels: 0.7000, 0.6840, 0.6800, 0.6750, 0.6600

Currencies trading and New Zealand dollar. The price of NZD/USD has not been able to fix below the level of 0.6600 and the inclined support line. Fixation lower than these levels will be a signal to sell with potential fall to 0.6450 and 0.6250. The growth of quotations in the near future is limited by the resistance level at 0.6750. We maintain our medium-term negative outlook for the New Zealand dollar and recommend waiting for confirmation of the signal to sell.

Nearest resistance levels: 0.6750, 0.6800, 0.6900, 0.7000

Nearest support levels: 0.6600, 0.6450, 0.6400, 0.6320, 0.6250, 0.6200, 0.6000

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