23.07.2015 - Technical view
Currencies trading and euro. The price of EUR/USD has started growing again after a slight correction within the downward channel. In case of further price increase, we expect reaching the levels of 1.1000, 1.1080 and the upper boundary of the channel. On the other hand, after the short-term growth, we expect the resumption of the downward price movement with the first targets at 1.0700 and 1.0550. Our medium-term outlook remains negative.
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 increased to the upper boundary of the corridor 1.5650, but failed to overcome it and started to correct downward. For the continuation of growth with the objectives at 1.5800 and 1.5900, quotations must overcome the resistance at 1.5650. On the other hand, a signal for opening short positions with the targets at 1.5460 and 1.5350 will be fixing of quotations below 1.5550. We maintain a medium-term negative outlook and wait for the signal to open new positions.
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 corrected down, but could not continue to fall to the next support level at 123.00 and 122.50, and has started growing again. Currently quotes are near the level of 124.00 and in case of fixing the price above the level of 124.25, we expect further growth to 125.00 and 125.70. Our medium-term outlook remains positive, and we expect the continued growth in prices in the near future.
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 decreased within the descending channel and currently approached to a strong support level at 0.7350. Overcoming this mark will be the basis for the continuation of the downward price movement to the target levels at 0.7200 and 0.7000. The price growth is limited by the upper boundary of the channel, and a strong resistance level at 0.7500. We maintain a medium-term negative outlook and recommend holding short positions.
Nearest resistance levels: 0.7500, 0.7600, 0.7700, 0.7800, 0.7840, 0.7900, 0.8000
Nearest support levels: 0.7350, 0.7200, 0.7000
Currencies trading and New Zealand dollar. The price of NZD/USD showed a sharp rise in prices and have reached a local maximum at 0.6650. A further increase in price is limited by the upper boundary of the descending channel. According to our estimates, the price decline will continue in the near future to the next target levels at 0.6500 and 0.6200. We also maintain a medium-term negative outlook.
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