28.05.2015 - Technical view

Currencies trading and euro. The price of EUR/USD decreases along the bottom boundaries of the descending channel and currently shows a minor upwards correction. Overcoming the important level of 1.0900 is the cause for further price reduction to the following target levels at 1.0700 and 1.0550. Growth is limited by the upper boundary of the channel. We expect a decrease in prices in the medium term and 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 decreases along the bottom boundaries of the descending channel and currently traders are near the important level of 1.5350. Within the correction, the price can rise to the psychologically important level of 1.5500. We expect a further fall in prices to the closest targets at 1.5100 and 1.4900 and maintain the medium-term negative outlook.

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 once has reached the target level of 124.00, and continues upward movement. This level is the highest since 2007. Taking into account strong upward momentum quotations may continue to rise to the target level of 125.00 in the near future. Correction is possible to the lower boundary of the rising channel. We keep medium-term positive outlook, and recommend holding long positions.

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 continues to decline within the descending channel and currently is trying to overcome the level of 0.7700. Quotes can grow up to 0.7800. We expect a further fall in prices in the medium term and recommend holding short positions with the first target at 0.7550.

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 has stabilized near the level of 0.7250, but in the near future will likely continue to move within the downward channel. In case of growth, the price reaches the upper limit of the channel and the level of 0.7400. According to our forecast, the price decline will continue in the near future to the level of 0.7200, and can keep the negative momentum and reach the mark of 0.7000.

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

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