26.11.2015 - Technical view
Currencies trading and euro. The price of EUR/USD continues to move along the upper boundary of the descending channel and may continue the downward movement to the target levels around 1.0500. In case of breaking through the upper boundary of the channel, quotes can continue the upward movement to 1.0800, but overcoming this level is unlikely. We recommend holding short positions with the potential of decline to 1.0500, 1.0200 and 1.0000, and maintain the medium-term negative outlook.
Nearest resistance levels: 1.0700, 1.0800, 1.0900, 1.1000, 1.1100, 1.1200, 1.1350, 1.1450
Nearest support levels: 1.0550, 1.0500, 1.0450, 1.0200, 1.0000, 0.9600
Currencies trading and British pound. The price of GBP/USD corrected upwards after reaching the level of 1.5050. In the case of continued growth, the price reaches the resistance level at 1,5200-1,5250. Today, we are forecasting a decrease of price volatility. Correction of price may continue in the near future, but the medium-term outlook remains negative.
Nearest resistance levels: 1.5200, 1.5250, 1.5300, 1.5500, 1.5675, 1.5700, 1.5800, 1.5900
Nearest support levels: 1.5000, 1.4800, 1.4700
Currencies trading and Japanese yen. The price of USD/JPY after the upward correction has reached the bottom of the channel which has left earlier and continued to decline. In case of overcoming the support level at 122.50 and fixing below it, we will see a further fall in price to 121.50. Our medium-term outlook remains positive, but the price correction may continue in the near future.
Nearest resistance levels: 124.50, 125.00, 125.70, 128.00, 130.00
Nearest support levels: 122.50, 121.50, 120.50, 119.00, 118.50, 118.00, 117.00
Currencies trading and Australian dollar. The price of AUD/USD started to correct downwards after reaching the lower boundary of the local rising channel and in the near future is likely to reach the support level at 0.7200, and then may fall to the bottom of the channel and the level of 0.7150. Our medium-term outlook remains negative, but we are waiting for the signal to open short positions and do not exclude the resumption of short-term growth.
Nearest resistance levels: 0.7300, 0.7400, 0.7500, 0.7600, 0.7700, 0.7800
Nearest support levels: 0.7200, 0.7150, 0.7080, 0.7000, 0.6900, 0.6750, 0.6600, 0.6500
Currencies trading and New Zealand dollar. The price of NZD/USD approached to the level of 0.6600 after the rebound from the level of 0.6500. Further growth of price is limited by the resistance level at 0.6600 and the upper boundary of the descending channel, a breaking of which according to our estimates is unlikely. We still recommend holding short position with a stop above 0.6600 and the targets at 0.6450, 0.6250 and 0.6000. Our medium-term outlook remains negative.
Nearest resistance levels: 0.6600, 0.6700, 0.6800, 0.6900, 0.7000, 0.7200
Nearest support levels: 0.6500, 0.6450, 0.6400, 0.6320, 0.6250, 0.6200