29.02.2016 - Technical view
Currencies trading and euro. The price of EUR/USD has shown a strong fall after could not break through the inclined resistance line. As a result, the price broke through the important support level at 1.0985 and continued to fall. In this regard, we expect a continuation of negative dynamics to 1.0800, a break through which will lead to the continuation of negative dynamics to 1.0700. In case of correction, quotations may return to the level of 1.0985. Our medium-term outlook remains negative and we expect a decrease in the near future.
Nearest resistance levels: 1.0985, 1.1050, 1.1200, 1.1350, 1,1400, 1.1450, 1.1500, 1.1750
Nearest support levels: 1.0900, 1.0800, 1.0700, 1.0550
Currencies trading and British pound. The price of GBP/USD after rising correction resumed its fall and within the strong downward impulse has reached the next support level at 1.3860 and overcoming it will be a signal for the continuation of negative dynamics with the objectives at 1,3500-1,3600. Our medium-term outlook remains negative and we are waiting for a decline in the near future.
Nearest resistance levels: 1.4000, 1.4080, 1.4365, 1.4400, 1.4500, 1.4640, 1.4700, 1.4800
Nearest support levels: 1.3860, 1.3600, 1,3500
Currencies trading and Japanese yen. The price of USD/JPY continued its growth and has reached the level 114.00, but was not able to continue its growth and reach the next target level at 114.70. At the moment, the price returned to the level of 113.00 and a further decline is limited by a strong support at 111.00. We maintain our medium-term positive outlook, and in the case of fixing the price above the level of 114.70, we recommend to open long positions.
Nearest resistance levels: 113.00, 113.60, 114.70, 116.00, 118.80, 120.20, 121.50, 122.30
Nearest support levels: 111.00, 110.00
Currencies trading and Australian dollar. The price of AUD/USD could not overcome the strong resistance level at 0.7340 and started to correct downwards. As a result, the quotes broke through the inclined line of support and fixing below it will confirm the signal to sell with the objectives at 0.7000, 0.6840 and 0.6800. The correction in the near future is limited by the level of 0.7180. Our medium-term outlook remains negative and we recommend opening short positions.
Nearest resistance levels: 0.7180, 0,7240, 0.7350, 0.7400, 0.7500
Nearest support levels: 0.7000, 0.6840, 0.6800, 0.6750, 0.6600
Currencies trading and New Zealand dollar. The price of NZD/USD after reaching the important level of resistance at 0.6750, started a sharp decline in result of which was able to break through the inclined support line and an important level of 0.6600. Fixation below this level is a strong signal to sell with the first target levels at 0.6450 and 0.6350. Our medium-term outlook remains negative and we recommend to open short positions.
Nearest resistance levels: 0.6600, 0.6750, 0.6800, 0.6900, 0.7000
Nearest support levels: 0.6450, 0.6400, 0.6320, 0.6250, 0.6200, 0.6000