21.04.2015 - Technical view

Currencies trading and euro. The price of EUR/USD has broken through the lower border of the local rising channel after could not continue to grow after reaching the level of 1.0800. According to our estimates, quotations may continue to fall in price in the near future and will reach the mark of 1.0550 and 1.0500. The growth of price in the near future is constrained by 1.0900 and 1.1000. We maintain our medium-term negative outlook and recommend holding short positions.

Nearest resistance levels: 1.0800, 1.1000, 1.1050, 1.1280, 1.1450, 1.1500, 1.1620

Nearest support levels: 1.0550, 1.0500, 1.0400, 1.0100

Currencies trading and British pound. The price of GBP/USD continued to decline after an unsuccessful attempt to fix above the level of 1.5000. At the same time, the quotes broke through the lower boundary of the local rising channel. This fact is a signal to open a short-term short position with a stop above 1.5050 and objectives at 1.4700 and 1.4600. Our medium-term negative outlook remains unchanged and we recommend holding short positions.

Nearest resistance levels: 1.5000, 1.5150, 1.5200, 1.5300, 1.5350, 1.5500, 1.5550

Nearest support levels: 1.4700, 1.4600, 1.4500

Currencies trading and Japanese yen. The price of USD/JPY broke through the upper limit of the local descending channel and continued the growth. It is worth noting that earlier the price rebounded from the strong support at 118.50. Overcoming the level of 119.50 will be the basis for continued growth to 121.00 and 122.00. Short position should be opened only in case of fixing the price below 118.50. We maintain our positive outlook for the medium-term and recommend holding long positions with a stop below 118.50.

Nearest resistance levels: 119.50, 120.30, 121.00, 122.00, 125.00

Nearest support levels: 118.50, 117.40, 116.00, 115.00, 114.00

Currencies trading and Australian dollar. The price of AUD/USD after some consolidation near the level of 0.7800 and a sloping resistance line began to decline. As a result of the decline, quotations have broken the support level at 0.7740. In case of continued downward movement the price will reach the target level of 0.7550. Growth is limited by the levels of 0.7800 and 0.7900. We maintain our medium-term negative outlook and expect a decline in the near future.

Nearest resistance levels: 0.7740, 0.7800, 0.7900, 0.8000, 0.8040, 0.8200, 0.8250

Nearest support levels: 0.7600, 0.7550, 0.7500, 0.7200

Currencies trading and New Zealand dollar. The price of NZD/USD within the steady growth reached the resistance level at 0.7700 and after some consolidation resumed falling and broke through the lower boundary of the local rising channel. In case of fixation below 0.7620, we recommend to open short positions with a stop above 0.7700 and objectives at 0.7500 and 0.7400. Continued growth and overcoming of resistance at 0.7700 is unlikely. According to our forecasts, the decline will continue in the near future.

Nearest resistance levels: 0.7700, 0.7800, 0.7850

Nearest support levels: 0.7620, 0.7500, 0.7400, 0.7310, 0.7200, 0.7000

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