22.03.2016 - Technical view
Currencies trading and euro. The price of EUR/USD continues a gradual decline along the inclined resistance line and currently approached to the level of 1.1200 and the lower boundary of the rising channel. In case of breaking through these levels and fixation below, we recommend to open short positions with potential targets at 1.1050 and 1.0985. The growth in the near future is possible to the levels 1,1350-1,1400. Our medium-term outlook remains negative.
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 after unsuccessful attempts to overcome the level of 1.4500, started to decline and as a result broke through the level of 1.4400, which was the completion of the reversal pattern - double top. In this regard, we expect the price to drop in the near future to the rising channel's lower border and levels 1,4180-1,4200. Our forecast for the coming days 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 after some consolidation above the level of 111.00, has started to grow and in the near future may continue to rise to an inclined resistance line. Overcoming the important resistance level at 114.70, will be the reason for further growth with the objectives at 117.00, 118.80 and 121.50. Our medium-term outlook remains positive, and in case of opening long positions, we recommend to set a stop below 110.60.
Nearest resistance levels: 113.00, 114.70, 116.00, 118.80, 120.20, 121.50, 122.30
Nearest support levels: 111,00, 110,60, 108,00
Currencies trading and Australian dollar. The price of AUD/USD continues to consolidate above the level of 0.7575 to which it had fallen within the correction. Further reduction of prices is limited by the lower boundary of the rising channel in case of breaking through which, the fall will continue 0.7400. The growth of quotations in the near future is limited by the levels of 0.7700 and 0.7800. Our medium-term outlook remains negative, despite the possible continuation of growth in the near future.
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 continues to correct inside the rising channel. In case of continued negative dynamics, quotations will reach the lower boundary of the channel and the level of 0.6600. The further growth potential recently has greatly decreased. We maintain our medium-term negative outlook unchanged with potential targets at 0.6450 and 0.6250.
Nearest resistance levels: 0.6800, 0.6900, 0.7000
Nearest support levels: 0.6600, 0,6560, 0.6450, 0.6400, 0.6320, 0.6250, 0.6200