21.03.2016 - Technical view
Currencies trading and euro. The price of EUR/USD corrected downward inside the rising channel and in the near future may continue to fall to the level of 1.1200. The breaking of this level and fixation below it is a signal to sell with the first targets at 1.1050 and 1.0850. On the other hand, in the near future growth is limited by the levels of 1.1400 and 1.1500. We maintain our medium-term negative outlook for the euro, and expect the fall in the coming days.
Nearest resistance levels: 1.1350, 1.1400, 1.1450, 1.1500
Nearest support levels: 1.1200, 1.1050, 1.0985, 1.0900, 1.0800, 1.0700, 1.0550
Currencies trading and British pound. The price of GBP/USD corrected downwards after several unsuccessful attempts to overcome the resistance level at 1.4500. At the moment there is a good opportunity to open short positions with the closest target at 1.4180. In such case the stop should be set above 1.4500. The breaking of the mark 1.4500 in the near future is unlikely. Our medium-term outlook remains negative.
Nearest resistance levels: 1.4400, 1.4500, 1.4640, 1.4700, 1.4800
Nearest support levels: 1.4365, 1.4180, 1.4000, 1.3860, 1.3600, 1.3500
Currencies trading and Japanese yen. The price of USD/JPY continues to consolidate above the support level at 111.00. The breaking of this level will lead to the decline of price to 110.00 and 108.00. In case of opening long positions with potential targets at 114.70, 117.00 and 118.80, the stop should be set below the level of 110.60. Our medium-term outlook remains negative.
Nearest resistance levels: 113.00, 114.70, 116.00, 118.80, 120.20, 121.50, 122.30
Nearest support levels: 111,00, 110,00, 108,00
Currencies trading and Australian dollar. The price of AUD/USD after reaching the resistance level at 0.7675 and the upper boundary of the rising channel, started to correct and at the moment is trying to gain a foothold above the level of 0.7575. In case of continued negative dynamics, quotations reached the lower boundary of the rising channel. The signal about trend reversal will be breaking through support at 0.7400. Our medium-term outlook remains negative and we are waiting for a decline in the next few days.
Nearest resistance levels: 0.7700, 0,7800, 0,6000
Nearest support levels: 0.7500, 0.7400, 0.7350, 0.7240, 0.7120, 0.7000, 0.6840, 0.6800
Currencies trading and New Zealand dollar. The price of NZD/USD after reaching the inclined line of resistance and the level of 0.6875, started to correct may soon return to the lower boundary of the rising channel and the level of 0.6600. The growth of price in the medium term is limited by the levels of 0.6900 and 0.7000, and more likely is the resumption of negative dynamics of price with the potential of decline to 0.6450 and 0.6250.
Nearest resistance levels: 0.6900, 0.7000
Nearest support levels: 0.6800, 0.6600, 0,6560, 0.6450, 0.6400, 0.6320, 0.6250, 0.6200