21.05.2015 - Technical view

Currencies trading and euro. The price of EUR/USD is consolidated near the level of 1.1100 after breaking the lower boundary of the channel. In case of continued downward movement, and fixing the price below 1.1100, we recommend to open short positions with the targets at 1,0900 and at 1.0700. In case of return of quotations inside the rising channel, quotations may continue to rise to 1.1400 and 1.1500. 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 continues to rise gradually after a sharp fall. Currently quotes rise along the bottom of the channel. In case of continued growth quotations probably will reach the level of 1.5800. A signal to sell will be fixation of quotations below 1.5500. In such a case, we should expect a decline to 1.5200 and 1.4700. Our medium-term outlook remains negative, but in the nearest future growth may continue within the channel.

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 broke the mark of 121.00 and is trying to gain a foothold above it. In case of success, we expect continued growth of quotations to the target mark on 122.00. Within the correction, the price may fall to support at 120.20. According to our estimates, quotes will continue to rise in the near future. We also maintain a medium-term positive outlook.

Nearest resistance levels: 122.00, 124.00, 125.00

Nearest support levels: 121.00, 120.20, 119.00, 118.50, 117.40, 116.00, 115.00, 114.00

Currencies trading and Australian dollar. The price of AUD/USD tries to gain a foothold below the mark 0.7900 after a steady decline. It is worth noting that the price fixing below 0.7900 will confirm a sell signal with the targets at 0.7700 and 0.7550. The growth in the near future is limited by an important level of 0.8000. Our medium-term outlook remains positive, and we are waiting for further decline in prices.

Nearest resistance levels: 0.7900, 0.8000, 0.8200, 0.8250, 0.8500

Nearest support levels: 0.7800, 0.7700, 0.7600, 0.7550, 0.7500, 0.7200

Currencies trading and New Zealand dollar. The price of NZD/USD continues to steadily decline within the descending channel. Recently the price updated local minimum, which gives reason to expect a continued descending price movement with the potential fall to the target level of 0.7200. Growth is possible within the correction to the upper boundary of the descending channel. We continue to recommend holding short positions.

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

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