30.10.2015 - Technical view
Currencies trading and euro. The price of EUR/USD rebounded from the level of 1.0900 and reached an important mark on 1.1000. In case of overcoming this mark, quotes will rise to 1.1100 and the upper limit of the downward channel. At the moment, there is a high probability of continuation of the negative dynamics of prices in the near future and we recommend accumulating short positions on the euro to the target levels at 1.0800 and 1.0700. Our medium-term outlook remains negative.
Nearest resistance levels: 1.1000, 1.1100, 1.1200, 1.1350, 1.1450, 1.1500, 1.1620
Nearest support levels: 1.0900, 1.0850, 1.0800, 1.0700, 1.0550
Currencies trading and British pound. The price of GBP/USD showed a steady growth after the rebound from the level 1.5250 and the lower boundary of a local descending channel. Currently quotes approached to an important level of 1.5350 and its overcoming according to our estimates is unlikely. In this regard, we expect a drop in prices in the near future. Our medium-term outlook also remains negative.
Nearest resistance levels: 1.5350, 1.5500, 1.5675, 1.5700, 1.5800, 1.5900
Nearest support levels: 1.5250, 1.5200, 1.5000, 1.4700
Currencies trading and Japanese yen. The price of USD/JPY has shown a strong increase in volatility for the last day, and currently continues to move within the range 120,50-121,50. Fixing of quotes above 121.50, will be the basis for opening long positions with the targets at 123.00 and 124.50. On the other hand after breaking through the support at 120.50, we can see a continuation of the negative dynamics of prices to 119.50 and 119.00. We expect growth of price in the near future and medium term.
Nearest resistance levels: 121.50, 123.00, 124.50, 125.00, 125.70, 128.00, 130.00
Nearest support levels: 120.50, 119.00, 118.50, 118.00, 117.00
Currencies trading and Australian dollar. The price of AUD/USD shows moderate growth after reaching the lower limit of descending channel, and the local level of support at 0.7080. At the moment, there is a possibility of continuing the current correction to the levels of 0.7150 and 0.7200, but overcoming these levels according to our forecast is unlikely. We recommend keeping short positions with a stop above 0.7260 and objectives at 0.7000 and 0.6900. The medium-term view remains negative.
Nearest resistance levels: 0.7200, 0.7300, 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 continues to correct upwards and broke through the levels of 0.6700. According to our forecasts, growth of price in the near future will continue to the upper boundary of the local descending channel, or the resistance at 0.6800. The negative dynamics of price according to our estimates will resume soon and quotations will reach the next target marks at 0.6600 and 0.6450. We maintain a negative medium-term outlook for the New Zealand dollar.
Nearest resistance levels: 0.6800, 0.6900, 0.7000, 0.7200
Nearest support levels: 0.6700, 0.6600, 0.6450, 0.6400, 0.6320, 0.6250, 0.6200