25.02.2016 - Technical view
Currencies trading and euro. The price of EUR/USD continues to consolidate within the range 1,0985-1,1050. In case of breaking through the important support level at 1.0985, the fall of price will continue to the angled support line and then may reach the target marks at 1.0800 and 1.0700. On the other hand, overcoming and fixing the price above the level of 1.1050 and a sloping line of resistance will lead to a further increase to 1.1200. Our medium-term outlook for the euro 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 has stabilized after the strong decline during which was able to break through the level of 1.4000. The immediate objectives in case of saving the negative dynamics will be 1.3860 and 1.3600. After a strong decline there is a high probability of a rebound of price upwards to 1,4000-1,4080. Our medium-term outlook remains negative, but we recommend to search for a point to open long positions.
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 showed an increase within the correction and reached the inclined resistance line. A further increase in price is limited by the level of resistance at 1.1300 fixing above which will be a signal for opening long positions with the first target at 114.70. Our medium-term outlook remains negative and we recommend waiting for a buy signal.
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 is consolidated around the level of 0.7180, after it dropped within the correction. In the near future the price will probably continue to consolidate between the inclined support line and the resistance level at 0.7240. Fixation above this level will be a signal for opening long positions with targets at 0.7350 and 0.7400. In case of falling and fixing below 0.7050, we recommend to open short positions with nearest objectives at 0,6800-0,6840. 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 bounced up after reaching the level of 0.6600 and the inclined support line. A further increase in price is possible to 0,6700-0,6750. We forecast a drop in prices in the near future and medium term and recommend to open short positions in case of fixing the price below 0.6600.
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