21.07.2015 - Technical view

Currencies trading and euro. The price of EUR/USD decreases along the upper boundary of the local descending channel and according to our estimates will continue to fall in the near future to the target levels at 1.0700 and 1.0500. In case of growth, the price will reach the level of 1.0900 and 1.1000. We admit the possibility of price correction in the near future, but expect a decrease of quotations in the medium term.

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 after breaking through the bottom of the channel dropped to 1.5550 and continues to consolidate near this level. In the case of overcoming this mark, we expect the downward price movement to 1.5460 and 1.5350. In order to continue growth to 1.5800 and 1.5900, quotations need to overcome 1.5650 the level of. 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

Currencies trading and Japanese yen. The price of USD/JPY has overcome the strong resistance level at 124.25, which is the basis for continued growth with the potential of reaching the target levels of 125.00 and 125.70. In case of change of the current trend to negative, a signal to sell will be price fixing below 123.75. Our medium-term outlook remains positive.

Nearest resistance levels: 125.00, 125.70, 128.00, 130.00

Nearest support levels: 124.25, 122.50, 122.00, 121.50, 120.20, 119.00, 118.50, 117.40

Currencies trading and Australian dollar. The price of AUD/USD continues to decrease gradually along the upper boundary of the descending channel. Currently quotations are consolidated near the level of 0.7350 and in case of overcoming this support will continue to decline to 0.7200 and 0.7000. Within the correction, the price may rise to 0.7500. We expect a decrease in prices in the medium term.

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 within the sustainable descending channel and currently quotations are trying to overcome the level of 0.6600. In case of success, growth can continue to 0.6700 and the upper limit of the downward channel. On the other hand the more likely is the resumption of the downward price movement with the objectives at 0.6500 and 0.6360. We maintain a medium-term negative outlook.

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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