28.01.2016 - Technical view

Currencies trading and euro. The price of EUR/USD stopped growing after reaching the level of 1.0900, and an unsuccessful attempt to overcome it. At the moment the price is consolidating below this level and in case of overcoming it, will continue to rise until 1,0985-1,1000. On the other hand, the decline is likely to resume and quotes again can return to the level of 1.0800 and then continue the decline to 1.0700 and 1.0550. Our medium-term outlook remains negative and we are waiting for the increased volatility in the coming days.

Nearest resistance levels: 1.0900, 1,0985, 1.1050, 1.1080, 1.1200, 1.1350, 1.1450

Nearest support levels: 1.0800, 1.0700, 1.0550, 1.0500, 1.0450, 1.0200

Currencies trading and British pound. The price of GBP/USD after some consolidation below 1.4365, dropped to the lower limit of the local triangle. In case of breaking and overcoming the local minimum around 1.4180, we expect a continuation of the negative dynamics of the price to 1.4080 and 1.4000. On the other hand, consolidation above 1.4365 would mean changing the local negative trend to positive and the need to open long positions with the upside potential to 1.4500 and 1.4700. Our medium-term outlook remains negative and we are waiting for increased volatility in the coming days.

Nearest resistance levels: 1.4365, 1.4400, 1.4500, 1.4600, 1.4700, 1.4800, 1.5000, 1.5200

Nearest support levels: 1.4080, 1.4000, 1.3860, 1.3600

Currencies trading and Japanese yen. The price of USD/JPY continues to consolidate around the level of 118.80 and in case of renewal of negative dynamics will decline to the bottom of the channel and the level of 117.00. At the same time, fixing above 118.80 will be a buy signal with target level at 120.20, 121.50 and 122.30. Our medium-term outlook remains positive, and we are waiting for the signal to open new positions.

Nearest resistance levels: 118.80, 120.20, 120.60, 121.50, 122.30, 123.60

Nearest support levels: 117.00, 116.50, 116.00, 115.00

Currencies trading and Australian dollar. The price of AUD/USD after rising to the resistance level at 0.7050, started to correct downwards. Fixing of quotations above this level will be the basis for continued growth of the price to 0.7180 and 0.7350. To resume the decline, the price needs to break through the lower boundary of the channel. Our medium-term outlook remains negative.

Nearest resistance levels: 0.7050, 0.7180, 0.7350, 0.7400, 0.7500

Nearest support levels: 0.6840, 0.6800, 0.6750, 0.6600

Currencies trading and New Zealand dollar. The price of NZD/USD could not overcome the inclined resistance line and sharply decreased. As a result, quotations have fallen to the level of 0.6450, and in case of saving current dynamics will fall to 0.6350 and 0.6250. The possible growth of price in the near future is limited by resistance at 0.6600. Our medium-term outlook remains pessimistic and we recommend holding short positions.

Nearest resistance levels: 0.6500, 0.6600, 0.6700, 0.6800, 0.6900, 0.7000

Nearest support levels: 0.6450, 0.6400, 0.6320, 0.6250, 0.6200, 0.6000

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