22.09.2016 - Technical view

Currencies trading and euro. The price of EUR/USD rebounded from the lower boundary of the descending channel and a local level of support at 1.1140. Currently quotes are around the level of 1.1200 and the upper limit of the downward channel. Overcoming and fixing the price above this level will be the basis for continued growth of quotations to 1.1260 and 1.1350. Our medium-term outlook remains negative and we look forward to the resumption of the negative dynamics in the near future with the first targets at 1.1050 and 1.0985.

Nearest resistance levels: 1,1200, 1,1400, 1,1500, 1,1620, 1,1750

Nearest support levels: 1,1050, 1,0985, 1,0850, 1,0800, 1,0700, 1,0550, 1,0500

Currencies trading and British pound. The price of GBP/USD has not been able to gain a foothold below the level of 1.3000 and started to correct upwards. In case of continued upward price movement, quotations will continue to rise to the upper boundary of the descending channel and the levels of 1.3100 and 1.3225. According to our estimates, the current correction will continue during next few days, but after that, the negative price movement will resume. Our medium-term outlook remains negative and we expect a drop in price with the objectives at 1.2800 and 1.2600.

Nearest resistance levels: 1,3000, 1,3225, 1,3350, 1,3500, 1.3600, 1.3840, 1.4040, 1.4500

Nearest support levels: 1,2800, 1,2600, 1,2500, 1,2200, 1,2000

Currencies trading and Japanese yen. The price of USD/JPY has shown a strong rise in volatility yesterday and as a result has broken through the support level at 101.40, which was the basis for the continuation of the negative dynamics of price to 99.60. In case of overcoming this level of support, the decline may continue until 97.00. We maintain our medium-term positive outlook and expect the resumption of growth in the near future with potential targets at 103.50, 105.00 and 106.40.

Nearest resistance levels: 101,40, 103,50, 105,00, 106,40, 108,00, 109,75, 111,00, 112,15

Nearest support levels: 100,00, 99,00, 98,60, 97,00

Currencies trading and Australian dollar. The price of AUD/USD continued growth and has broken through the upper boundary of the local rising channel. As a result, quotations reached the level of 0.7650. The breaking of this level will be the basis for further growth of price to 0,7700-0,7730. According to our estimates, the continued growth of quotations in the near future is limited and we expect the resumption of the negative dynamics of price with the closest targets at 0.7500 and 0.7450. Our medium-term outlook remains pessimistic.

Nearest resistance levels: 0,7650, 0,7700, 0,7800, 0,8000

Nearest support levels: 0,7500, 0,7450, 0,7320, 0,7250, 0,7120, 0,7000

Currencies trading and New Zealand dollar. The price of NZD/USD has shown a slight increase, and continues to consolidate near the lower boundary of the channel limits which has left earlier. A further increase in prices in the near future is limited by the levels of 0.7400 and 0.7500. More likely is the resumption of the negative dynamics in the near future and confirmation of the signal to sell with the targets at 0.6600 and 0.6450 will be fixation of price below 0.7200. We expect the price fall in the near future.

Nearest resistance levels: 0,7320, 0,7400, 0,7500

Nearest support levels: 0,7250, 0,7130, 0,7050, 0,6940, 0,6820, 0,6720, 0,6575, 0,6450

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