27.03.2015 - ​Technical view

The price of EUR/USD failed to gain a foothold above the important level of 1.1000 and has overcome the upper limit of the local rising channel and started to decline. At the moment, the quotes are consolidated below 1.0900 and in case of breaking through the lower boundary of the local rising channel, will continue to decline to 1.0700 and 1.0500. Our medium-term outlook remains negative and we recommend holding short positions with a stop above the local maximum.

Nearest resistance levels: 1.0900, 1.1000, 1.1100, 1.1280, 1.1450, 1.1500, 1.1620

Nearest support levels: 1.0700, 1.0500, 1.0400, 1.0100

EUR/USD Index Forecast

The price of GBP/USD could not overcome the important resistance level at 1.5000 and is currently consolidating near the mark 1.4850. In case of continued downward movement, quotes, will reach the level 1.4700. Growth is limited by the resistance level at 1.5000, the overcoming of which will be a signal to open long positions with the targets at 1.5200 and 1.5350. Our medium-term view remains negative.

Nearest resistance levels: 1.5000, 1.5150, 1.5200, 1.5300, 1.5350, 1.5500, 1.5550

Nearest support levels: 1.4850, 1.4700, 1.4500

The price of USD/JPY rebounded from the strong level of 118.50 and reached the upper limit of the downward channel. For the resumption of growth, quotations must be fixed above the level of 119.50. The fall in prices is limited by the support at 118.50 in case of breaking through which the price can reach 117.00. Our medium-term outlook remains positive, but in the near future we may see a price drop.

Nearest resistance levels: 119.50, 120.50, 122.00, 125.00

Nearest support levels: 118.50, 117.40, 116.00, 115.00, 114.00

The price of AUD/USD continues to decline after an unsuccessful attempt for the resumption of growth. According to our estimates, a drop in prices will continue to 0.7700 and 0.7600. Growth is limited by a strong resistance at 0.7900. We recommend holding short positions with a stop above the local maximum near 0.7900 and maintain a medium-term negative outlook for the Australian dollar.

Nearest resistance levels: 0.7900, 0.8000, 0.8040, 0.8200, 0.8250, 0.8360

Nearest support levels: 0.7750, 0.7700, 0.7600, 0.7500, 0.7200

The price of NZD/USD continues to decline gradually and shows a high level of volatility. For the continuation of growth the price must be fixed above the level of 0.7700. In case of consolidation of quotations below 0.7600, we expect a continuation of the downward movement with the potential of fall to 0.7500, 0.7310 and 0.7200. Our medium-term outlook is negative and the growth in the near future will be unlikely.

Nearest resistance levels: 0.7600, 0.7700, 0.7800, 0.7850

Nearest support levels: 0.7500, 0.7400, 0.7310, 0.7200, 0.7000

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