28.09.2015 - Technical view
Currencies trading and euro. The price of EUR/USD is consolidating between the lower boundary of the rising channel and the level of resistance at 1.1200. In case of renewed growth within the channel, we expect price growth to 1.1300 and 1.1400. On the other hand, fixing the price below 1.1100 will be the basis for opening short positions with the first targets at 1.1000 and 1.0900. We maintain a medium-term negative outlook.
Nearest resistance levels: 1.1200, 1.1300, 1.1400, 1.1450, 1.1500, 1.1620, 1.1700
Nearest support levels: 1.1100, 1.1000, 1.0850, 1.0800, 1.0700, 1.0550
Currencies trading and British pound. The price of GBP/USD broke through the important level of 1.5200 and is consolidating below it. Currently quotes are trying to break through the inclined resistance level and if successful may correct up to 1.5350. According to our forecasts, the price will continue to fall to the level of 1.5000 in the near future. Our medium-term outlook remains negative.
Nearest resistance levels: 1.5200, 1.5350, 1.5460, 1.5675, 1.5700, 1.5800, 1.5900
Nearest support levels: 1.5000, 1.4700
Currencies trading and Japanese yen. The price of USD/JPY after the strong growth at the end of last week to the level of 121.00, started to correct downwards. A further drop in prices is limited by the angled line of support and the level of 119.00. After a long consolidation, we expect a strong price movement. The signal for opening long positions will be the price fixing beyond the corridor 118,00-121,50. Our medium-term outlook remains positive.
Nearest resistance levels: 121.50, 123.00, 124.50, 125.00, 125.70, 128.00, 130.00
Nearest support levels: 119.00, 118.50, 118.00, 117.00
Currencies trading and Australian dollar. The price of AUD/USD is consolidating above the psychologically important level of 0.7000, after a rebound from the lower limit of the downward channel. In case of continued growth, the price may reach the marks 0.7100 and 0.7200. On the other hand, we expect a drop in prices in the near future to a local minimum at 0.6900, after which negative trend may continue until 0.6750. We maintain a medium-term negative outlook.
Nearest resistance levels: 0.7200, 0.7260, 0.7400, 0.7500, 0.7600, 0.7700, 0.7800
Nearest support levels: 0.7000, 0.6900, 0.6750, 0.6600, 0.6500
Currencies trading and New Zealand dollar. The price of NZD/USD approached the important resistance level at 0.6400 and in case of its breaking may continue to rise to 0.6450. More likely scenario according to our forecasts is a resumption of the downward movement of the price to the first target at 0.6250 and then the fall may continue to 0.6200 and 0.6000. Our medium-term outlook remains negative.
Nearest resistance levels: 0.6400, 0.6500, 0.6600, 0.6700, 0.6800, 0.6850, 0.7000
Nearest support levels: 0.6320, 0,6250, 0.6200, 0.6000