20.07.2015 - Technical view

Currencies trading and euro. The price of EUR/USD has continued to move within the local downtrend channel and has overcome the local minimum near 1.0850, which was the basis for the continuation of the downward movement of the price to the nearest target levels at 1.0700 and 1.0500. In case of growth the signal for opening short term long positions with the targets at 1,1000, 1.1080 and 1.1200, will be breaking through the upper boundary of the local descending channel and overcoming the level of 1.0900. Our medium-term outlook remains negative.

Nearest resistance levels: 1.0900, 1.1000, 1.1080, 1.1150, 1.1250, 1.1400, 1.1450, 1.1500

Nearest support levels: 1.0800, 1.0550

Currencies trading and British pound. The price of GBP/USD is moving within the corridor 1,5550-1,5650. It is worth noting that the price has moved beyond the local ascending channel and confirmation of the signal for opening short positions will be fixing the price below the local minimum at 1.5550. In such a case quotes can be reduced to 1.5460 and 1.5350. The growth in the near future is possible to 1.5800. Our medium-term outlook remains negative.

Nearest resistance levels: 1.5650, 1.5700, 1.5800, 1.5900, 1.6000

Nearest support levels: 1.5550, 1.5350, 1.5200, 1.5000, 1.4700

June 10 of USD Performance

Currencies trading and Japanese yen. The price of USD/JPY after a minor correction returned to the strong resistance level at 124.25. The breaking of this level will become the basis for the continuation of the upward movement of quotations to 125.00 and 125.70. In case of correction, quotes will probably return to the next support level at 123.00 and 122.50. Our medium-term outlook remains positive.

Nearest resistance levels: 124.25, 125.00, 125.70, 128.00, 130.00

Nearest support levels: 122.50, 122.00, 121.50, 120.20, 119.00, 118.50, 117.40

Currencies trading and Australian dollar. The price of AUD/USD today has shown increased volatility and tried to overcome the level of a local minimum near 0.7350, but after a sharp decline returned to the previous levels. In case of correction, the price may rise to 0.7400 and 0.7500. We expect a further decline of price and recommend holding short positions with the target at 0.7200.

Nearest resistance levels: 0.7400, 0.7500, 0.7600, 0.7700, 0.7800, 0.7840, 0.7900, 0.8000

Nearest support levels: 0.7200, 0.7000

Currencies trading and New Zealand dollar. The price of NZD/USD is corrected upwards after consolidation above the level of 0.6500. In case of the continuation of the current movement, quotes will rise to 0.6600 and the upper limit of the downward channel. On the other hand, after completion of correction, we with a high probability expect the resumption of the downward movement of quotations with the objectives at 0.6500 and 0.6360. Our medium-term outlook remains negative and we recommend holding short positions.

Nearest resistance levels: 0.6600, 0.6700, 0.6800, 0.6850, 0.7000, 0.7080, 0.7200, 0.7260

Nearest support levels: 0.6500, 0.6360

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