27.05.2015 - Technical view
Currencies trading and euro. The price of EUR/USD continues to fall along the lower boundary of the descending channel, and after reaching the level of 1.0900 has continued to fall. According to our forecast, the price decline will continue in the near future to the next target at 1.0700. Within the correction is possible increase to the upper boundary of the channel, and the resistance level at 1.1100. Our medium-term outlook remains negative and we recommend holding short positions.
Nearest resistance levels: 1.0900, 1.1000, 1.1200, 1.1280, 1.1400, 1.1500, 1.1620
Nearest support levels: 1.0800, 1.0550
Currencies trading and British pound. The price of GBP/USD reached the next target level at 1.5350 and is consolidating above this mark. In the near future downward the price movement is likely to continue inside the descending corridor. At the same time, the price correction is possible to the level of 1.5500 and the upper boundary of the downward channel. We maintain a medium-term negative outlook and expect further price reduction to the level of 1.5100 in the near future.
Nearest resistance levels: 1.5450, 1.5500, 1.5700, 1.5800, 1.6000
Nearest support levels: 1.5350, 1.5200, 1.5000, 1.4700, 1.4600, 1.4500
Currencies trading and Japanese yen. The price of USD/JPY after the strong growth has stabilized near the level of 123.00 and currently is consolidating above the upper boundary of the rising channel. In the near future the price will continue to rise to 124.00 after which quotations may reach the level of 125.00. Falling is possible to the lower boundary of the rising channel. We are likely to expect further growth of quotations in the near future and maintain the medium-term positive outlook.
Nearest resistance levels: 124.00, 125.00
Nearest support levels: 122.00, 121.00, 120.20, 119.00, 118.50, 117.40, 116.00, 115.00
Currencies trading and Australian dollar. The price of AUD/USD dropped to the lower limit of the descending channel and currently shows a slight correction, which can continue until the 0.7800 level of. In the near future we expect a drop in prices to the target level of 0.7700, after which the current dynamics is likely to continue, and the price will fall to 0.7550. Our medium-term outlook remains negative.
Nearest resistance levels: 0.7800, 0.7900, 0.8000, 0.8200, 0.8250, 0.8500
Nearest support levels: 0.7700, 0.7600, 0.7550, 0.7500, 0.7200
Currencies trading and New Zealand dollar. The price of NZD/USD after consolidation above the level of 0.7300 was able to overcome it and approached the target level of 0.7200. Currently quotes show an increase within the correction, which is limited by the level of 0.7300. We expect further price fall to 0.7200. Breaking through this mark will be the basis for the continuation of falling the price to the level of 0.7000. Our view of the New Zealand dollar remains negative.
Nearest resistance levels: 0.7300, 0.7400, 0.7430, 0.7500, 0.7620, 0.7700, 0.7740, 0.7800
Nearest support levels: 0.7200, 0.7000