26.04.2016 - Technical view

Currencies trading and euro. The price of EUR/USD rebounded from the lower boundary of the descending channel and can continue the growth within the channel. The growth in the near future is limited by a strong resistance at 1.1400, a breaking of which will be the basis for the continuing price increase to 1.1500 and 1.1620. A more likely scenario is a continuation of the negative dynamics within which the price can fall to 1.1050 and 1.0985. Our medium-term outlook remains negative.

Nearest resistance levels: 1.1400, 1.1450, 1.1500, 1,1620

Nearest support levels: 1.1200, 1.1050, 1.0985, 1.0900, 1.0800, 1.0700, 1.0550

Currencies trading and British pound. The price of GBP/USD after overcoming the level of 1.4400 was able to reach 1.4500 and breaking of this level will be the basis for further increase of price to 1.4640 and 1.4700. On the other hand, the fall can be resumed and in case of opening short positions, the stop should be set above 1.4500. Our forecast for the coming months remains negative.

Nearest resistance levels: 1.4500, 1.4640, 1.4700, 1.4800

Nearest support levels: 1.4400, 1.4050, 1.3840, 1.3600, 1.3500

Currencies trading and Japanese yen. The price of USD/JPY corrected down to a strong level of 111.00 and in case of its breaking, the negative dynamics may continue until 1.0975. On the other hand, growth may resume and in such a case the target levels will be 112.15 and 114.70. Our medium-term outlook remains positive and we expect increased volatility in the coming days.

Nearest resistance levels: 112.15, 113.00, 114.70, 116.00, 118.80, 120.20

Nearest support levels: 111.00, 109,75, 108.00, 106,60, 105.00, 103.00

Currencies trading and Australian dollar. The price of AUD/USD continues to consolidate near the level of 0.7700, after recent declines. Overcoming this level will be the basis for the continuation of negative dynamics to 0.7575 and the lower boundary of the rising channel. Growth is limited by the upper border of the channel, and a strong resistance level around 0.7800. Our medium-term outlook is negative.

Nearest resistance levels: 0,7800, 0,6000

Nearest support levels: 0.7700, 0.7575, 0.7400, 0.7350, 0.7240, 0.7120, 0.7000, 0.6840

Currencies trading and New Zealand dollar. The price of NZD/USD is trying to gain a foothold below 0.6875 and in case of success, the price decline will continue to 0.6760 and the lower boundary of the rising channel. It is worth noting that the price previously broke the inclined support line that was the signal for a change of the upward trend to the negative. Our medium-term outlook remains pessimistic and we expect an increased level of volatility in the coming days.

Nearest resistance levels: 0.6875, 0.7000, 0.7200, 0.7400

Nearest support levels: 0,6760, 0.6600, 0.6560, 0.6450, 0.6400, 0.6320, 0.6250

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