26.01.2016 - Technical view
Currencies trading and euro. The price of EUR/USD could not continue to grow after reaching the strong support level at 1.0800, and may soon reach the level of 1.0900. Its overcoming will be the basis for further growth to 1.0980. According to our estimates the price decline will resume in the near future, and after overcoming the support at 1.0800, the closest targets will be 1.0700 and 1.0550. Our medium-term outlook remains negative.
Nearest resistance levels: 1.0900, 1,0985, 1.1050, 1.1080, 1.1200, 1.1350, 1.1450
Nearest support levels: 1.0800, 1.0700, 1.0550, 1.0500, 1.0450, 1.0200
Currencies trading and British pound. The price of GBP/USD after correction to the level of 1.4350 and the upper limit of the downward channel has resumed falling and in the near future will continue downward movement within the channel with the first targets at 1.4080 and 1.4000. In the case of growth, a buy signal will be breaking through the upper boundary of the descending channel and fixing above 1.4350. Our medium-term outlook remains negative and we recommend holding short positions.
Nearest resistance levels: 1.4310, 1.4400, 1.4500, 1.4600, 1.4700, 1.4800, 1.5000, 1.5200, 1.5250
Nearest support levels: 1.4000, 1,3860, 1,3600
Currencies trading and Japanese yen. The price of USD/JPY after the strong growth within the correction and reaching the level of resistance at 118.80, started to decline, but the downside potential is limited by the levels of 117.50 and 116.50. After completion of the current decline in the near future, we expect the resumption of growth and are waiting for the signal for opening long positions. Our medium-term outlook remains positive despite a likely drop in the near future.
Nearest resistance levels: 118.80, 120.20, 120.60, 121.50, 122.30, 123.60
Nearest support levels: 117.50, 116.50, 116.00, 115.00
Currencies trading and Australian dollar. The price of AUD/USD broke through the upper limit of the local downward channel and reached 0.7050, but was not able to continue its growth and at the moment has continued to fall along the upper boundary of the channel. The next upside target level is 0.6850, after overcoming of which decline will continue to 0.6800 and 0.6600. We recommend holding short positions with a stop above 0.7050 and maintain the medium-term negative outlook.
Nearest resistance levels: 0.7050, 0.7150, 0.7200, 0.7300, 0.7400, 0.7500
Nearest support levels: 0.6850, 0.6800, 0.6750, 0.6600
Currencies trading and New Zealand dollar. The price of NZD/USD renewed fall yesterday and continues to decline gradually. The next upside target levels are 0,6350-0,6400, after breaking of which, the decline will continue to 0.6250 and 0.6000. In case of change of negative trend to the positive and overcoming the important resistance level at 0.6600, growth may continue to 0.6680 and 0.6880. Our medium-term outlook remains negative and we expect a decline in the near future.
Nearest resistance levels: 0.6450, 0.6500, 0.6600, 0.6700, 0.6800, 0.6900, 0.7000
Nearest support levels: 0.6400, 0.6320, 0.6250, 0.6200, 0.6000