20.05.2015 - Technical view
Currencies trading and euro. The price of EUR/USD broke through the lower boundary of the rising channel, and dropped to the support level at 1.1130. Fixing the price below this level will become the confirmation of the signal to sell. In this case, the quotes will fall to the level of 1.0900 and 1.0700. Growth is limited by the lower boundary of the rising channel and the resistance level at 1.1400. In case of renewed upward momentum, quotes will reach the psychologically important level of 1.1500l, but more likely is a continuation of the price fall. Our medium-term outlook remains negative.
Nearest resistance levels: 1.1200, 1.1280, 1.1400, 1.1500, 1.1620
Nearest support levels: 1.1130, 1.1000, 1.0900, 1.0800, 1.0550
Currencies trading and British pound. The price of GBP/USD has fallen to the bottom of the rising channel and the important level of 1.5500. At the moment, there is a great probability of the upward price rebound of with growth potential to the local maximum at 1.5800. In case of further decline and fixing the price below 1.5500, we recommend to open short positions with the potential drop to 1.5100 and 1.4700. Our medium-term outlook is negative, but we can see the growth in the near future.
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 reached the target level of 121.00 after has broken through the strong resistance level at 120.20. In case of correction, quotes will fall to the level of 120.20. According to our forecasts, the price growth will continue in the near future to 121.50 and 122.00. At the same time, there is a possibility of correction in the near future. Our medium-term outlook remains positive and we recommend holding long positions.
Nearest resistance levels: 121.00, 122.00, 125.00
Nearest support levels: 120.20, 119.00, 118.50, 117.40, 116.00, 115.00, 114.00
Currencies trading and Australian dollar. The price of AUD/USD has broken through the lower boundary of the rising channel and reached the important support level at 0.7900. Fixing the price below this mark will be the basis for the continuation of fall of quotations with the objectives at 0.7800 and 0.7700. Within the correction, the price may return to the level of 0.8000. We expect a drop in prices in the medium term to 0.7550 and recommend to open short positions.
Nearest resistance levels: 0.8000, 0.8200, 0.8250, 0.8500
Nearest support levels: 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 has resumed the fall after correction to the level of 0.7430. At the moment the price is near a local minimum and in case of the continuation of the downward movement will reach the target level of 0.7200. We recommend keeping short positions with a stop above 0.7550 and maintain a negative outlook on the New Zealand dollar.
Nearest resistance levels: 0.7430, 0.7500, 0.7620, 0.7700, 0.7740, 0.7800, 0.7850
Nearest support levels: 0.7310, 0.7200, 0.7000