31.05.2016 - Technical view
Currencies trading and euro. The price of EUR/USD has stabilized after the recent correction, and at the moment is around the upper limit of the downward channel. In case of breaking through and fixation above 1.1200? the downtrend will change to ascending. A more likely scenario is a continuation of the negative dynamics with the first targets at 1.1050, 1.0850 and 1.09850. Our medium-term outlook remains negative.
Nearest resistance levels: 1.1200, 1.1400, 1.1500, 1,1620, 1,1750
Nearest support levels: 1.1050, 1.0985, 1.0900, 1.0800, 1.0700
Currencies trading and British pound. The price of GBP/USD showed strong growth during which has overcome the resistance at 1.4670, but failed to gain a foothold above it. In case of continued rising dynamics, the closest target levels will be 1.4850 and 1.5000. According to our forecasts, volatility will remain elevated in the near future and the fall is limited by the level of 1.4600.
Nearest resistance levels: 1.4670, 1.4850, 1,5000, 1,5150
Nearest support levels: 1.4500, 1.4400, 1.4040, 1.3840, 1.3600, 1,3500
Currencies trading and Japanese yen. The price of USD/JPY has stabilized after the previous day's strong growth and is located around the important level of 111.00. Fixing above it will be a cause for further price growth to 112.15 and 114.70. The fall within the correction is limited by the inclined support line and an important level of 109.75. Our medium-term outlook is positive and the current growth may continue in the near future.
Nearest resistance levels: 112,15, 113.00, 114.70, 116.00
Nearest support levels: 111,00, 109,75, 108,00, 106,60, 105,00, 103,40, 100,00
Currencies trading and Australian dollar. The price of AUD/USD showed strong growth within the correction and reached the level of 0.7250. Fixation above this mark will be a signal about change of the negative trend to the positive and in this case, growth will continue to 0.7400 and 0.7500. According to our estimates, the decline will continue in the medium term, and in the near future with the targets at 0.7000 and 0.6840.
Nearest resistance levels: 0.7250, 0.7400, 0,7500, 0.7575, 0.7700, 0,7800, 0,6000
Nearest support levels: 0.7120, 0.7000, 0.6840
Currencies trading and New Zealand dollar. The price of NZD/USD corrected upwards within the local descending channel. At the moment the price is around the important levels of 0.6720 and may continue to rise to the upper boundary of the channel. According to our forecasts, the more likely is the resumption of the negative dynamics after the current correction. Our medium-term outlook remains negative.
Nearest resistance levels: 0,6820, 0,6940, 0.7050, 0.7200, 0.7400
Nearest support levels: 0,6720, 0,6575, 0.6450, 0.6400, 0.6320, 0.6250