25.05.2015 - Technical view
Currencies trading and euro. The price of EUR/USD has fixed under the lower boundary of the rising channel and has overcome an important support level at 1.1100. This fact was the confirmation of the signal for opening short positions. In case of correction, the price can go back to the level 1.1200, but we with a high probability predict further fall of prices with the first targets at 1.0900 and 1.0700. Our medium-term outlook remains negative and we recommend holding short positions.
Nearest resistance levels: 1.1000, 1.1200, 1.1280, 1.1400, 1.1500, 1.1620
Nearest support levels: 1.0900, 1.0800, 1.0550
Currencies trading and British pound. The price of GBP/USD could not continue the growth and after some consolidation below resistance at 1.5700 has started to decline and broke through the lower boundary of the rising channel. Currently quotes are located near the local minimum at 1.5450. Overcoming this level will confirm a sell signal with the objectives at 1.5100 and 1.4600. We maintain a medium-term negative view and wait for the signal to sell.
Nearest resistance levels: 1.5500, 1.5700, 1.5800, 1.6000
Nearest support levels: 1.5450, 1.5350, 1.5200, 1.5000, 1.4700, 1.4600, 1.4500
Currencies trading and Japanese yen. The price of USD/JPY has continued growth along the inclined line of support and has overcome the local maximum at 121.50. According to our estimates, the growth of quotations in the near future will continue to the target level of 122.00, after which can reach targets 124.00 and 125.00. The correction is limited by the support level at 121.00 and 120.20. Our medium-term outlook remains positive and we recommend holding long positions.
Nearest resistance levels: 122.00, 124.00, 125.00
Nearest support levels: 121.00, 120.20, 119.00, 118.50, 117.40, 116.00, 115.00, 114.00
Currencies trading and Australian dollar. The price of AUD/USD dropped to the strong support level at 0.7800 and continues to fall within the downward channel. Within the correction quotes can return to the level of 0.7900. On the other hand, breaking through 0.7800 will be the basis for further price reduction with the targets at 0.7700 and 0.7550 marks. Our medium-term outlook remains negative and we recommend holding short positions.
Nearest resistance levels: 0.7900, 0.8000, 0.8200, 0.8250, 0.8500
Nearest support levels: 0.7800, 0.7700, 0.7600, 0.7550, 0.7500, 0.7200
Currencies trading and New Zealand dollar. The price of NZD/USD after correction to the level of 0.7400, and the renewed fall returned to a local minimum near 0.7300. Overcoming this level will lead to a further reduction in prices to the target level of 0.7200. Growth is possible within the downward channel. We expect further fall and recommend holding short positions with the target at 0.7200.
Nearest resistance levels: 0.7400, 0.7430, 0.7500, 0.7620, 0.7700, 0.7740, 0.7800, 0.7850
Nearest support levels: 0.7300, 0.7200, 0.7000