19.05.2015 - Technical view
Currencies trading and euro. The price of EUR/USD It continued to decline and reached the lower boundary of the rising channel and the support level at 1.1280. In case of the continuation of the downward movement and fixing the prices below the local minimum at 1.1200, we recommend to open short positions with the first targets at 1.0900 and 1.0700. On the other hand, growth in the near future within the channel may continue in the near future to the psychologically important level of 1.1500. We maintain a medium-term negative outlook for the euro.
Nearest resistance levels: 1.1400, 1.1500, 1.1620
Nearest support levels: 1.1280, 1.1200, 1.1130, 1.1000, 1.0900, 1.0800, 1.0550
Currencies trading and British pound. The price of GBP/USD gradually decreases inside the rising channel after failed to overcome an important resistance level at 1.5800. In case of the continued growth, quotations will reach the level of 1.6000, but continued growth thereafter is unlikely. Falling prices in the near future may continue to the level of 1.5500 and the bottom of the channel. We maintain our negative medium-term view on the GBP and are waiting for new signal for opening positions.
Nearest resistance levels: 1.5700, 1.5800, 1.6000
Nearest support levels: 1.5500, 1.5350, 1.5200, 1.5000, 1.4700, 1.4600, 1.4500
Currencies trading and Japanese yen. The price of USD/JPY continues to grow and before long is likely to reach the level of 120.20 and then an upward trend may continue to the target levels 121.00 and 122.00. In case of a fall, quotations may drop to the level of support at 119.00 and 118.50. Sideways movement may continue in the near future, but the medium-term outlook remains positive.
Nearest resistance levels: 120.20, 121.00, 122.00, 125.00
Nearest support levels: 119.00, 118.50, 117.40, 116.00, 115.00, 114.00
Currencies trading and Australian dollar. The price of AUD/USD within falling has reached inclined support line. At the moment, there is a possibility of rebound of the price upwards to local maximums near 0.8125. In case of breaking through the sloping support line, a signal to sell will be quotes fixation below 0.7900. We keep medium-term outlook with the targets near 0.7550, but are waiting for confirmation of the signal to sell.
Nearest resistance levels: 0.8200, 0.8250, 0.8500
Nearest support levels: 0.8000, 0.7900, 0.7800, 0.7700, 0.7600, 0.7550, 0.7500, 0.7200
Currencies trading and New Zealand dollar. The price of NZD/USD started to correct upwards sharply and approached the important level of 0.7440. Further growth of prices is limited by the upper boundary of the descending channel and the signal of the changing the current negative trend to positive, will become fixing of quotations above the mark of 0.7550. On the other hand, we expect saving the negative dynamics before reaching the support level at 0.7200. Our medium-term outlook remains negative.
Nearest resistance levels: 0.7440, 0.7500, 0.7620, 0.7700, 0.7740, 0.7800, 0.7850
Nearest support levels: 0.7310, 0.7200, 0.7000