24.02.2016 - Technical view
Currencies trading and euro. The price of EUR/USD is consolidated within the range 1,0985-1,1050 after fell in previous days. The growth of price is limited by the inclined line of resistance in the near future, overcoming of which will lead to further increase of price to 1.1200. A more likely scenario is a continuation of the negative dynamics and overcoming of support at 1.0985, will be the cause to reach the target levels at 1.0800 and 1.0700. Our medium-term outlook remains negative.
Nearest resistance levels: 1.1050, 1.1200, 1.1350, 1,1400, 1.1450, 1.1500, 1.1750
Nearest support levels: 1.0985, 1.0900, 1.0800, 1.0700, 1.0550
Currencies trading and British pound. The price of GBP/USD after the recent correction and consolidation beyond the local descending channel has broken the local minimum at 1.4080 and could reach the psychologically important level of 1.4000. Fixing of price below this mark will be the basis for the continuation of negative dynamics with the objectives at 1.3860 and 1.3600. We do not exclude correction to 1.4250 and 1.4365 in the near future, but the current negative trend is likely to continue.
Nearest resistance levels: 1.4000, 1.4080, 1.4365, 1.4400, 1.4500, 1.4640, 1.4700, 1.4800
Nearest support levels: 1.3860, 1.3600, 1,3500
Currencies trading and Japanese yen. The price of USD/JPY continues to decrease gradually along the inclined support line. In the near future quotations may reach the local lows around 1.1100. In case of resumption of growth, a signal for opening long positions will be fixing of price above the level of 113.00. In this case, the stop should be set below 111.00 and target levels will be 117.00, 118.80 and 120.20. Our medium-term outlook remains positive.
Nearest resistance levels: 113.00, 113.60, 114.70, 116.00, 118.80, 120.20, 121.50, 122.30
Nearest support levels: 111.00, 110.00
Currencies trading and Australian dollar. The price of AUD/USD after reaching the resistance level at 0.7240, started to correct downwards and reached the mark 0.7180. In the near future a drop in prices may continue until the inclined support line. Its breaking through and fixation below 0.7050 will become a sell signal with the objectives at 0,6800-0,6840. A breaking of resistance at 0.7240, will lead to further growth of quotations to 0.7350. Our medium-term outlook remains negative.
Nearest resistance levels: 0,7240, 0.7350, 0.7400, 0.7500
Nearest support levels: 0.7180, 0.7000, 0.6840, 0.6800, 0.6750, 0.6600
Currencies trading and New Zealand dollar. The price of NZD/USD showed a sharp decline after failed to reach the resistance level at 0.6750. At the moment, the price approached the support at 0.6600 and the inclined support line. Fixing below given levels will be the basis for opening short positions with a stop above 0.6750 and target levels at 0.6450 and 0.6250. Our medium-term outlook remains negative.
Nearest resistance levels: 0.6750, 0.6800, 0.6900, 0.7000
Nearest support levels: 0.6600, 0.6450, 0.6400, 0.6320, 0.6250, 0.6200, 0.6000