23.08.2016 - Technical view

Currencies trading and euro. The price of EUR/USD was not able to continue the decline and rebounded upwards after reached the inclined support line. In case of continued upward momentum quotes will reach the resistance level at 1.1400. On the other hand, the price may correct down after breaking the inclined support line and in this case the first target will be 1.1200. According to our estimates, the drop in prices will resume in the near future and our medium-term outlook remains negative.

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

Nearest support levels: 1,1200, 1,1050, 1,0985, 1,0850, 1,0800, 1,0700, 1,0550, 1,0500

Currencies trading and British pound. The price of GBP/USD rebounded upwards after approached the level of support at 1.3000, but could not overcome it. In near future, growth may continue to 1.3225 and the upper limit of the downward channel, fixation above which will become a signal of trend reversal to positive. According to our estimates, the decline will resume in the near future within the channel and the price will reach 1.2800. Our medium-term outlook remains pessimistic.

Nearest resistance levels: 1,3225, 1,3350, 1,3500, 1.3600, 1.3840, 1.4040, 1.4500, 1.4670

Nearest support levels: 1,3000, 1,2800, 1,2600, 1,2500, 1,2200, 1,2000

Currencies trading and Japanese yen. The price of USD/JPY has not been able to continue its growth and overcome the local resistance level at 100.85, which could be a buy signal with potential targets at 103.50 and 105.00. Currently quotes are consolidating around the psychologically important level of 100.00 and a further decline is possible till 98.60 and 97.00. Our medium-term outlook remains positive and we expect increased volatility in the near future.

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 rebounded from the inclined support line and approached the level of 0.7650. In case of continuation of the current growth quotations may reach the level of 0.7700. According to our estimates, the decline will resume in the near future with potential targets at 0.7500 and 0.7400. Our medium-term outlook remains negative.

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

Nearest support levels: 0,7575, 0,7500, 0,7400, 0,7320, 0,7250, 0,7120, 0,7000

Currencies trading and New Zealand dollar. The price of NZD/USD has continued to consolidate within the triangle after it could not break through the lower boundary and rose sharply. Fixation above 0.7320 will be the basis for continued growth to 0.7400 and 0.7500. The signal to sell will be price fixing below 0.7200 and in such a case targets will be 0.7050 and 0.6820. Our medium-term outlook remains negative and we are waiting for a decrease 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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