26.05.2016 - Technical view
Currencies trading and euro. The price of EUR/USD corrected in the descending channel and has reached its upper limit. Its breaking through and overcoming resistance at 1.1200, will become a signal about the change of the local downward trend to the positive. On the other hand. More likely is the continuation of a downward price movement inside the descending channel with potential targets at 1.1050, 1.0985 and 1.0850. Our medium-term outlook remains negative.
Nearest resistance levels: 1.1200, 1.1400, 1.1500, 1,1620, 1,1750
Nearest support levels: 1.1050, 1.0985, 1.0900, 1.0800, 1.0700
Currencies trading and British pound. The price of GBP/USD continued to rise after was able to overcome significant resistance level at 1.4670. Fixation above this mark is the basis for continued growth of quotations to 1.4850 and 1.5000. In case of correction, quotations may return to the support at 1.4500. We expect increased volatility in the coming weeks, after which the growth is likely to continue.
Nearest resistance levels: 1.4850, 1,5000, 1,5150
Nearest support levels: 1.4670, 1.4500, 1.4400, 1.4040, 1.3840, 1.3600, 1,3500
Currencies trading and Japanese yen. The price of USD/JPY has dropped to a sloping support line and currently is near the level of 109.75. In case of continued negative dynamics and fixing of price below the local minimum around 109.30, we expect a continuation of the negative dynamics of price to 108.00 and 106.60. In case of resumption of growth, the nearest target levels will be 111.00 and 112.15. Our medium-term outlook remains negative.
Nearest resistance levels: 111,00, 112,15, 113.00, 114.70, 116.00
Nearest support levels: 109,75, 108,00, 106,60, 105,00, 103,40, 100,00
Currencies trading and Australian dollar. The price of AUD/USD is consolidated within the corridor 0,7140-0,7250. In case of continued negative dynamics, closest targets will be 0.7000 and 0.6840. The signal of changing the local trend from negative to positive will be breaking through the level of 0.7250, and in this case, we expect continued growth to 0.7400. Our medium-term outlook remains negative.
Nearest resistance levels: 0.7250, 0.7400, 0,7500, 0.7575, 0.7700, 0,7800, 0,6000
Nearest support levels: 0.7120, 0.7000, 0.6840
Currencies trading and New Zealand dollar. The price of NZD/USD after the recent correction, has resumed falling and is currently located near the level of 0.6720. If the price falls below this level, we expect a drop in price with potential target levels at 0.6575 and 0.6450. Our medium-term outlook also remains negative, but we do not exclude the rebound with upside to 0.6820.
Nearest resistance levels: 0,6820, 0,6940, 0.7050, 0.7200, 0.7400
Nearest support levels: 0,6720, 0,6575, 0.6450, 0.6400, 0.6320, 0.6250