27.10.2015 - Technical view
Currencies trading and euro. The price of EUR/USD continues to adjust upwards after the rebound from the psychologically important level of 1.1000. The next upside target level for the further growth of prices is 1.1100, after which increase may continue to the target levels around 1.1200. In spite of the current upward momentum, we expect the resumption of the negative dynamics of prices and recommend to accumulate short positions. Our medium-term outlook is also negative with the objectives to 1.0700 and 1.0500.
Nearest resistance levels: 1.1100, 1.1200, 1.1350, 1.1400, 1.1450, 1.1500, 1.1620, 1.1700
Nearest support levels: 1.1000, 1.0850, 1.0800, 1.0700, 1.0550
Currencies trading and British pound. The price of GBP/USD has stabilized after yesterday's rebound from the sloping support line. In case of further growth quotations will reach an inclined resistance line and may continue to rise to 1.5500. According to our estimates, more likely it is a continuation of the negative dynamics of prices with the objectives at 1.5200 and 1.5000. We forecast a drop in the medium term.
Nearest resistance levels: 1.5500, 1.5675, 1.5700, 1.5800, 1.5900
Nearest support levels: 1.5350, 1.5250, 1.5000, 1.4700
Currencies trading and Japanese yen. The price of USD/JPY decreases after reaching the important level of resistance at 121.50. Currently quotes returned to the level of 120.50 and a further fall is limited by an inclined support line and local support around 119.50. We expect the resumption of growth in the near future and maintain the medium-term positive outlook with the targets at 123.00 and 124.50.
Nearest resistance levels: 121.50, 123.00, 124.50, 125.00, 125.70, 128.00, 130.00
Nearest support levels: 120.50, 119.00, 118.50, 118.00, 117.00
Currencies trading and Australian dollar. The price of AUD/USD continues to consolidate within the triangle and fixation of quotations beyond it will be the basis for opening new positions. Thus, a signal to sell with the targets at 0.7000 and 0.6900 will be overcoming levels of 0.7200. On the other hand, we recommend to open long positions after fixing above 0.7300. Our medium-term outlook remains positive.
Nearest resistance levels: 0.7300, 0.7400, 0.7500, 0.7600, 0.7700, 0.7800
Nearest support levels: 0.7200, 0.7000, 0.6900, 0.6750, 0.6600, 0.6500
Currencies trading and New Zealand dollar. The price of NZD/USD keeps consolidating below the level of 0.6800. Overcoming this level will be the basis for the continuation of the upward price movement to the target levels at 0.6900 and 0.7000. On the other hand, a signal to sell will be price fixing below the level of 0.6700. Our medium-term outlook remains negative and we are waiting for the signal to sell.
Nearest resistance levels: 0.6900, 0.7000, 0.7200
Nearest support levels: 0.6700, 0.6600, 0.6450, 0.6400, 0.6320, 0.6250, 0.6200