20.11.2015 - Technical view
Currencies trading and euro. The price of EUR/USD has continued to correct upwards and at the moment has reached the upper limit of the downward channel, and is consolidating near the important level of 1.0700. In case of breaking and fixing above these levels, we expect a continuation of growth of quotations to 1.0800 and 1.0900. On the other hand, now there is an increased probability of the resumption of the negative dynamics of prices within the channel to the targets around 1.0500. Our medium-term outlook remains negative.
Nearest resistance levels: 1.0700, 1.0800, 1.0900, 1.1000, 1.1100, 1.1200, 1.1350, 1.1450
Nearest support levels: 1.0550, 1.0500, 1.0450, 1.0000, 0.9600
Currencies trading and British pound. The price of GBP/USD after overcoming the resistance of 1,5250, continued to rise and may soon reach an important mark on 1.5350 and then continue to rise to 1.5500. In case of correction, quotes will drop to a sloping support line. We expect the resumption of a drop in prices after the current growth and maintain the medium-term negative outlook with the target at 1.5000.
Nearest resistance levels: 1.5350, 1.5500, 1.5675, 1.5700, 1.5800, 1.5900
Nearest support levels: 1.5250, 1.5200, 1.5000, 1.4800, 1.4700
Currencies trading and Japanese yen. The price of USD/JPY corrected downwards and in the near future may continue to fall to the lower boundary of the rising channel and the support level at 122.50. The breaking and fixing of price under given levels will be the basis for the continuation of the negative dynamics to 121.50 and 120.50. We expect the resumption of growth in the near future and recommend holding long positions with the targets at 124.50 and 125.40.
Nearest resistance levels: 124.50, 125.00, 125.70, 128.00, 130.00
Nearest support levels: 122.50, 121.50, 120.50, 119.00, 118.50, 118.00, 117.00
Currencies trading and Australian dollar. The price of AUD/USD after overcoming the local maximum at 0.7150, continued to rise to the level of 0.7200, and overcoming of this level will be a signal of change of the local negative trend and then quotes will likely continue to rise to 0.7300 and 0.7400. According to our forecasts, the decline will resume soon and quotes will reach target levels of 0.7000, 0.6900 and 0.6800. We also expect a drop in prices in the medium term.
Nearest resistance levels: 0.7200, 0.7300, 0.7400, 0.7500, 0.7600, 0.7700, 0.7800
Nearest support levels: 0.7150, 0.7080, 0.7000, 0.6900, 0.6750, 0.6600, 0.6500
Currencies trading and New Zealand dollar. The price of NZD/USD after returning to the descending channel, reached the level of 0.6600, but has not yet been able to overcome it. Within the correction, the growth may continue until the upper limit of the downward channel. We still maintain a medium-term negative outlook and recommend holding short positions with the targets at 0.6450, 0.6250 and 0.6000.
Nearest resistance levels: 0.6600, 0.6700, 0.6800, 0.6900, 0.7000, 0.7200
Nearest support levels: 0.6500, 0.6450, 0.6400, 0.6320, 0.6250, 0.6200