24.04.2015 - Technical view
Currencies trading and euro. The price of EUR/USD rebounded from the support level at 1.0700 and reached 1.0800, above which is trying to gain a foothold. In case of success, quotes will continue the upward movement of prices to the level of 1.0900 and 1.1050. According to our estimates, the potential for further growth is limited and we maintain a medium-term negative outlook for the euro with the objectives at 1.0500 and 1.0400.
Nearest resistance levels: 1.0800, 1.1000, 1.1050, 1.1280, 1.1450, 1.1500, 1.1620
Nearest support levels: 1.0550, 1.0500, 1.0400, 1.0100
Currencies trading and British pound. The price of GBP/USD continues to consolidate above the psychologically important level of 1.5000. Fixing the price above this mark is the basis for the continuation of the upward movement with the objectives at 1.5200 and 1.5350. For changing the current upward trend to negative, the price must break through the inclined level of support and fix below 1.5000. Our medium-term outlook remains negative, but the price growth may continue in the near future.
Nearest resistance levels: 1.5150, 1.5200, 1.5300, 1.5350, 1.5500, 1.5550
Nearest support levels: 1.5000, 1.4700, 1.4600, 1.4500
Currencies trading and Japanese yen. The price of USD/JPY could not continue to grow after reaching the level of 120.00, and returned to the support at 119.50. In case of continuation of the current downward momentum, quotes can decline to the level of 118.50, a breaking of which will be the signal for the continuation of the downward movement of the price to 117.40 and 116.00. We expect the resumption of quotes increase and keep a medium-term positive outlook.
Nearest resistance levels: 120.30, 121.00, 122.00, 125.00
Nearest support levels: 119.50, 118.50, 117.40, 116.00, 115.00, 114.00
Currencies trading and Australian dollar. The price of AUD/USD continues to grow along the sloping support line. At the moment, the price cannot break through the resistance level at 0.7800 and may continue to rise to 0.7900. More likely is the resumption of the downward price movement with the objectives at 0.7550 and 0.07500. Our medium-term outlook remains negative and we recommend holding short positions with a stop above 0.7900.
Nearest resistance levels: 0.7800, 0.7900, 0.8000, 0.8040, 0.8200, 0.8250
Nearest support levels: 0.7700, 0.7600, 0.7550, 0.7500, 0.7200
Currencies trading and New Zealand dollar. The price of NZD/USD yesterday showed a strong decline in which was fixed below the level 0.7600, which is the basis for the continuation of the downward movement of the price with the objectives at 0.7400 and 0.7200. The growth of quotations is limited by the resistance at 0.7700. We forecast a drop in prices in the near future.
Nearest resistance levels: 0.7620, 0.7700, 0.7800, 0.7850
Nearest support levels: 0.7500, 0.7400, 0.7310, 0.7200, 0.7000