29.04.2015 - Technical view

Currencies trading and euro. The price of EUR/USD was able to break through the resistance level at 1.0900 and approached the psychologically important level of 1.1000. In the case of the continuation of the current growth, quotations may reach a local maximum at 1.1050. A break of this level will be the basis for the continuation of the upward movement up to 1.1500, but such a scenario is unlikely. We maintain a medium-term negative outlook, and indicate the possibility of opening short positions with a stop above 1.1050 and a target at 1.0550.

Nearest resistance levels: 1.1000, 1.1050, 1.1280, 1.1450, 1.1500, 1.1620

Nearest support levels: 1.0900, 1.0800, 1.0550, 1.0500, 1.0400, 1.0100

Currencies trading and British pound. The price of GBP/USD has fixed above the mark of 1.5200 and continued the growth. Currently quotes approached the target level 1.5350 and the upper boundary of the local rising channel. Overcoming the level of 1.5350 will be the basis for the continuation of the upward price movement to 1.5500. According to our forecasts, the decline of the British pound will resume in the near future and medium term, we maintain our negative outlook.

Nearest resistance levels: 1.5350, 1.5500, 1.5550

Nearest support levels: 1.5200, 1.5000, 1.4700, 1.4600, 1.4500

Currencies trading and Japanese yen. The price of USD/JPY continues to move near the level of 119.00. A drop in prices is limited by the level of support at 118.50. For the change of the current negative trend to the positive, the quotations must break through the inclined resistance line and to gain a foothold above the level of 120.00. We keep medium-term positive outlook and recommend to open long positions with a stop below the support level at 118.50.

Nearest resistance levels: 119.50, 120.00, 121.00, 122.00, 125.00

Nearest support levels: 118.50, 117.40, 116.00, 115.00, 114.00

Currencies trading and Australian dollar. The price of AUD/USD continued a steady growth after fixing the price above the level of 0.7800 and reached the psychologically important level of 0.8000. Fixing the price above this level will be a signal for opening long positions with the upside potential to 0.8300. On the other hand, at the moment there is a great probability of a downward price correction to the lower boundary of the rising channel and levels of 0.7800 and 0.7700. Our medium-term outlook for the Australian dollar remains negative.

Nearest resistance levels: 0.8000, 0.8040, 0.8200, 0.8250

Nearest support levels: 0.7900, 0.7800, 0.7700, 0.7600, 0.7550, 0.7500, 0.7200

Currencies trading and New Zealand dollar. The price of NZD/USD has reached an important level of 0.7740, but failed to overcome it and at the moment is corrected downward. The fall of the price within the correction may continue in the near future to the level of 0.7620 and a sloping support line. We expect a decrease in quotations in the near future, but in the case of fixing above 0.7740, the price may continue to rise to 0.7900 and 0.8000.

Nearest resistance levels: 0.7700, 0.7800, 0.7850

Nearest support levels: 0.7620, 0.7500, 0.7400, 0.7310, 0.7200, 0.7000

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