28.07.2015 - Technical view
Currencies trading and euro. The price of EUR/USD continued to grow and reached the level of 1.1080 and the upper limit of the downward channel. In case of the continuation of the upward movement, quotes will reach the level of 1.1200. According to our estimates, quotes will resume the downward price movement in the near future and will return to the levels of 1.1000, 1.0900 and 1.0800. We recommend accumulating short positions and maintain the medium-term negative outlook.
Nearest resistance levels: 1.1080, 1.1150, 1.1250, 1.1400, 1.1450, 1.1500
Nearest support levels: 1.1000, 1.0900, 1.0800, 1.0700, 1.0550
Currencies trading and British pound. The price of GBP/USD continues its growth after the rebound from the level of 1.5460. Currently quotations have overcome the level of 1.5550 and continues to grow. In the near future quotes will probably reach the level of 1.5650. In case of resumption of the downward movement, the price will drop to 1.5460 and 1.5350. We expect increased volatility and maintain the medium-term negative outlook.
Nearest resistance levels: 1.5650, 1.5700, 1.5800, 1.5900, 1.6000
Nearest support levels: 1.5550, 1.5460, 1.5350, 1.5200, 1.5000, 1.4700
Currencies trading and Japanese yen. The price of USD/JPY was unable to continue to fall after reaching the level of 123.00, and started to correct within the local descending channel. With further growth, the signal to open long positions with the first targets at 125.00 and 125.70, will be fixing the price above 124.25. Within the current negative trend, the price can reach the support level at 122.50 and 121.50. Our medium-term outlook remains negative.
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 started to correct upwards after failed to overcome the level of 0.7250. The growth of quotations in the near future is limited by the levels of 0.7350 and 0.7400. According to our forecast, the price decline will continue in the near future and medium term, to the target levels at 0.7200 and 0.7000.
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 shows steady growth and is located near the upper limit of the downward channel. In case of further growth and breaking through the local maximum near 0.6700, quotations may reach the levels 0.6800 and 0.7000. According to our forecasts, the decline will resume soon. We also maintain a medium-term negative outlook.
Nearest resistance levels: 0.6700, 0.6800, 0.6850, 0.7000, 0.7080, 0.7200, 0.7260
Nearest support levels: 0.6600, 0.6500, 0.6360, 0.6200, 0.6000