19.05.2016 - Technical view

Currencies trading and euro. The price of EUR/USD after some consolidation around the level of 1.1300, continued to fall, returned inside the descending channel and approached the important mark of 1.1200. The breaking of this support level will be a strong signal to open short positions with the targets at 1.1050 and 1.0985. Now there is a possibility of price rebound with growth potential to the upper limit of the downward channel.

Nearest resistance levels: 1.1400, 1.1500, 1,1620, 1,1750

Nearest support levels: 1.1200, 1.1050, 1.0985, 1.0900, 1.0800, 1.0700

Currencies trading and British pound. The price of GBP/USD after the rebound from the level of 1.4400, was able to break through an important resistance level at 1.4500 and in the near future may continue to rise to 1.4670 and 1.4700. In case of downward correction, quotes, may return to the levels of 1.4400 and 1.4500. In the near future, quotations may show a decrease, but after its completion we expect a price increase.

Nearest resistance levels: 1.4670, 1.4850, 1,5000, 1,5150

Nearest support levels: 1.4500, 1.4400, 1.4040, 1.3840, 1.3600, 1,3500

Currencies trading and Japanese yen. The price of USD/JPY after a long consolidation near the level of 109.00, continued its growth and was able to overcome the resistance at 109.75. This fact is the basis for the continuation of the rising price dynamics with potential targets at 111.00 and 112.15. The fall is limited by the inclined support line and its breaking through will be the basis for a decline to 108.00. Our medium-term outlook remains positive.

Nearest resistance levels: 111,00, 112,15, 113.00, 114.70, 116.00

Nearest support levels: 109,75, 108,00, 106,60, 105,00, 103,40, 100,00

Currencies trading and Australian dollar. The price of AUD/USD after the recent correction renewed the fall and broke through the support level at 0.7250, which was the basis for the continuation of the negative dynamics of price with immediate objectives at 0.7120 and 0.7000. Within the correction quotations may return to the level of resistance at 0.7400, but the more likely scenario is a continuation of the gradual decline in prices within the local downtrend. Our medium-term outlook remains negative.

Nearest resistance levels: 0.7250, 0.7400, 0,7500, 0.7575, 0.7700, 0,7800, 0,6000

Nearest support levels: 0.7120, 0.7000, 0.6840

Currencies trading and New Zealand dollar. The price of NZD/USD continued to decline and approached the local minimum near 0.6725. In case of continued negative dynamics, the closest target levels will be 0.6575 and 0.6450. It is worth noting that at the moment there is a possibility of price rebound and quotes in this case may return to the level of 0.6820. Our medium-term outlook remains negative.

Nearest resistance levels: 0,6760, 0,6820, 0,6940, 0.7050, 0.7200, 0.7400

Nearest support levels: 0,6575, 0.6450, 0.6400, 0.6320, 0.6250

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