29.05.2015 - Technical view
Currencies trading and euro. The price of EUR/USD has corrected within the downtrend channel and approached the upper boundary. In case of exit from the channel, the growth can be continued to the level of 1.1100. More likely is a continuation of the downward price movement within the channel with the first targets at 1.0700 and 1.0550. We recommend to keep short positions and maintain the medium-term negative outlook for the euro.
Nearest resistance levels: 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 has broken through and fixed below the important support level at 1.5350 and continues to decline within the descending channel. In case of correction, the price may rise to 1.5500 and the upper boundary of the channel. According to our forecast fall of quotations will continue in the near future and in the medium term. The first target will be the level of 1.5100.
Nearest resistance levels: 1.5350, 1.5450, 1.5500, 1.5700, 1.5800, 1.6000
Nearest support levels: 1.5200, 1.5000, 1.4700, 1.4600, 1.4500
Currencies trading and Japanese yen. The price of USD/JPY after reaching the target level of 124.00 started to correct downwards. In case of further decline quotations may return within the ascending channel and reach the level of 123.00. According to our estimates, the upward movement of prices will continue in the near future and it will reach the psychologically important level at 125.00. We recommend holding long positions with the stop below 121.50 and maintain the medium-term positive outlook.
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 continued to fall and has broken through the support level at 0.7700. This fact is the basis for the continuation of the current downward price movement with the first target at 0.7550. Corrective gains are limited by the level of 0.7800. We maintain a medium-term negative outlook and recommend holding short positions.
Nearest resistance levels: 0.7700, 0.7800, 0.7900, 0.8000, 0.8200, 0.8250, 0.8500
Nearest support levels: 0.7600, 0.7550, 0.7500, 0.7200
Currencies trading and New Zealand dollar. The price of NZD/USD after some consolidation above the level of 0.7200 could break through it and currently shows confident decline in the descending channel. The most likely scenario is a continuation of the downward movement of prices in the near future to the psychologically important level of 0.7000. Correction is possible within the channel to its upper limit. We expect a drop in prices in the near future.
Nearest resistance levels: 0.7200, 0.7300, 0.7400, 0.7430, 0.7500, 0.7620, 0.7700, 0.7740, 0.7800
Nearest support levels: 0.7000