27.07.2015 - Technical view
Currencies trading and euro. The price of EUR/USD after the decline on Friday, resumed growth within the local rising channel and in the near future is likely to reach the upper limit of the medium-term descending channel. In case of going beyond it, the growth of prices is possible to 1.1080 and 1.1200. We expect the resumption of the downward movement of prices in the near future and recommend to accumulate short positions with the targets at 1.0700 and 1.0550. Our medium-term outlook remains negative.
Nearest resistance levels: 1.1000, 1.1080, 1.1150, 1.1250, 1.1400, 1.1450, 1.1500
Nearest support levels: 1.0900, 1.0800, 1.0700, 1.0550
Currencies trading and British pound. The price of GBP/USD Ð°fter reaching the target level at 1.5460, rebounded upwards and in the near future probably will return to the level of 1.5550. Further growth of quotations is restricted by a strong resistance level around 1.5650. It is worth noting that for the continuation of the downward price movement with the objectives at 1.5350 and 1.5200, the price needs to break through the lower boundary of the medium-term rising channel. Our medium-term outlook remains negative, but we can see the growth in the near future.
Nearest resistance levels: 1.5550, 1.5650, 1.5700, 1.5800, 1.5900, 1.6000
Nearest support levels: 1.5460, 1.5350, 1.5200, 1.5000, 1.4700
Currencies trading and Japanese yen. The price of USD/JPY has broken through the inclined support line and an declined to the level of 123.50, which is a local minimum. In case of overcoming this mark, we expect a further price reduction to the levels 122.50 and 121.50. The reason for opening long positions with the targets at 125.00 and 125.70 will be the price fixing above 124.25. Our medium-term outlook remains positive.
Nearest resistance levels: 124.25, 125.00, 125.70, 128.00, 130.00
Nearest support levels: 122.50, 122.00, 121.50, 120.20, 119.00, 118.50, 117.40
Currencies trading and Australian dollar. The price of AUD/USD after a long consolidation above the level of 0.7350 started to decline sharply and approached the level of 0.7250. Currently quotes are near the lower boundary of the local descending channel. According to our forecasts, the drop in prices will continue in the near future and in the medium term and we recommend holding short positions.
Nearest resistance levels: 0.7350, 0.7500, 0.7600, 0.7700, 0.7800, 0.7840, 0.7900, 0.8000
Nearest support levels: 0.7200, 0.7000
Currencies trading and New Zealand dollar. The price of NZD/USD rebounded from the level of 0.6550 and corrected upwards. The growth of quotations in the near future is limited by the upper boundary of descending channel. The next upside target levels are 0.6500 and 0.6360. We recommend to hold short positions and maintain the medium-term negative outlook for the New Zealand dollar.
Nearest resistance levels: 0.6600, 0.6700, 0.6800, 0.6850, 0.7000, 0.7080, 0.7200, 0.7260
Nearest support levels: 0.6500, 0.6360, 0.6200, 0.6000