26.05.2015 - Technical view
Currencies trading and euro. The price of EUR/USD continues to fall along the inclined line of support and will soon reach the target level of 1.0900. Within the correction quotes can return to the important level of 1.1100. According to our expectations, the price will overcome the level of 1.0900 after which will continue the downward movement to 1.0700. We recommend to keep short positions with a stop above the local maximum at 1.1200 and keep the medium-term negative outlook.
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 has broken through the lower boundary of the rising channel and the support level at 1.5500 and is currently consolidating below it. Fixing below the local minimum at 1.5450 will be the signal for opening short positions with the potential of falling to 1.5100 and 1.4600. In case of correction, the price can reach the level of 1.5700. Our medium-term outlook remains negative.
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 fixed above the mark of 121.50 and continued the upward movement along the sloping resistance line. In case of decline correction is possible to 120.20. According to our forecasts, the increase in prices will continue in the near future to the target level of 122.00, the overcoming of which will be the basis for further growth with the objectives at 124.00 and 125.00. We keep medium-term positive outlook.
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 is consolidating above the level of 0.7800 and in the near future we may continue to fall within the downward channel to the target marks on 0.7700 and 0.7550. The increase within the correction is limited by the level of 0.7900. We expect saving the current downward trend in the near future and maintain the medium-term negative view.
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 has stabilized near the level of 0.7300 after the sharp decline. The price continues to move within the downtrend channel and the change of the trend in the near future is unlikely. Growth is limited by the boundaries of the channel. We expect overcoming the support level at 0.7300 and the continuation of the downward movement to a target level of 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