22.07.2015 - Technical view

Currencies trading and euro. The price of EUR/USD has corrected upwards after a rebound from the lower boundary of the descending channel and the support level at 1.0800. Currently quotations stabilized near the level of 1.0950, and may continue to grow to the levels of 1.1000 and 1.1080. According to our forecast, the price may continue to fall in the near future and medium term to the next target levels at 1.0700 and 1.0500.

Nearest resistance levels: 1.1000, 1.1080, 1.1150, 1.1250, 1.1400, 1.1450, 1.1500

Nearest support levels: 1.0900, 1.0800, 1.0700, 1.0550

Currencies trading and British pound. The price of GBP/USD is consolidated near the level of 1.5550. In case of growth quotations will reach the level of 1.5650. Overcoming this level will become the basis for opening long positions with the targets at 1.5800 and 1.5900. On the other hand more likely is overcoming the support at 1.5550 and falling to 1.5460 and 1.5350. 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 shown a sharp decline after failed to gain a foothold above the level of 124.25. In case of further decline quotations may reach the levels of 123.00 and 122.50. According to our forecasts increase in price will resume in the near future. We maintain a positive medium-term outlook and expect further growth to 125.00 and 125.70.

Nearest resistance levels: 124.25, 125.00, 125.70, 128.00, 130.00

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

Currencies trading and Australian dollar. The price of AUD/USD rose sharply following the consolidation of the price above the level of 0.7350. As a result, quotations reached the upper boundary of the local downward channel. Further growth is possible up to the psychologically important level of 0.7500. According to our forecast, the price decline will continue in the near future to the target levels at 0.7200 and 0.7000. We maintain a medium-term negative outlook and recommend holding short positions with a stop above 0.7500.

Nearest resistance levels: 0.7500, 0.7600, 0.7700, 0.7800, 0.7840, 0.7900, 0.8000

Nearest support levels: 0.7400, 0.7200, 0.7000

Currencies trading and New Zealand dollar. The price of NZD/USD the price has shown an upward correction and reached the sloping resistance line. In case of continued growth, the quotes can rise to the upper boundary of the downward channel. On the other hand, the more likely is the resumption of the downward movement of price in near future to the target levels at 0.6500, 0.6360 and 0.6200. Our medium-term outlook remains negative.

Nearest resistance levels: 0.6700, 0.6800, 0.6850, 0.7000, 0.7080, 0.7200, 0.7260

Nearest support levels: 0.6600, 0.6500, 0.6360

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