24.06.2015 - Technical view

Currencies trading and euro. The price of EUR/USD after a long consolidation has broken through the lower boundary of the triangle and started to decline rapidly. Within the fall, quotes has overcome the support level at 1.1200 and currently are trying to consolidate below this level. In case of success, quotes will continue to fall with the closest targets at 1.1080, 1.1000 and 1.0900. Within the correction, it is possible the rise to 1.1300. We recommend to hold short positions and maintain the medium-term negative outlook for the euro.

Nearest resistance levels: 1.1200, 1.1400, 1.1450, 1.1500, 1.1620

Nearest support levels: 1.1150, 1.1080, 1.1000, 1.0900, 1.0800, 1.0550

Currencies trading and British pound. The price of GBP/USD has broken through the angled line of support and the level of 1.5800, which was the basis for further price decline. Currently quotes show a slight increase after the rebound from the level 1.5700. After the end of correction, we expect the resumption of the downward movement with the nearest objectives at 1.5500 and 1.5350. Our medium-term outlook remains negative.

Nearest resistance levels: 1.5800, 1.5900, 1.6000

Nearest support levels: 1.5700, 1.5500, 1.5400, 1.5350, 1.5200, 1.5000, 1.4700

Currencies trading and Japanese yen. The price of USD/JPY continued growth after the rebound from the support level at 112.50. Currently quotes continue to rise gradually after breaking through the upper boundary of the triangle. Fixing the price above the local maximum at 124.25 will confirm the signal for opening long positions with the targets at 125.00 and 125.75. Our medium-term outlook remains positive.

Nearest resistance levels: 124.25, 125.00, 128.00, 130.00

Nearest support levels: 123.75, 122.50, 121.50, 120.20, 119.00, 118.50, 117.40

Currencies trading and Australian dollar. The price of AUD/USD corrected upwards within the local downtrend channel and according to our forecasts will continue to fall within the corridor 0,7600-0,7800. The price growth in the near future is limited by the level of resistance at 0.7800. Our medium-term outlook remains negative.

Nearest resistance levels: 0.7800, 0.7900, 0.8000, 0.8200, 0.8250, 0.8500

Nearest support levels: 0.7700, 0.7600, 0.7550, 0.7500, 0.7200

Currencies trading and New Zealand dollar. The price of NZD/USD is corrected within the descending channel and currently is near the level of 0.6850. In case of continued downward movement quotations will reach the level of 0.6600. Growth is limited by the psychologically important level of 0.7000. We maintain a medium-term negative outlook and recommend holding short positions with the target at 0.6600.

Nearest resistance levels: 0.7000, 0.7080, 0.7200, 0.7260, 0.7300, 0.7400, 0.7430, 0.7500

Nearest support levels: 0.6850, 0.6700, 0.6600

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