31.12.2015 - Technical view
Currencies trading and euro. The price of EUR/USD is consolidating above the level of 1.0900 after breaking a local slanted line of support. In order to continue growth quotations need to overcome the resistance levels at 1.1000 and 1.1050. On the other hand, breaking through the support at 1.0900 will lead to a further decline of quotations to 1.0800 and 1.0700. We maintain a medium-term negative outlook, and recommend accumulating short positions.
Nearest resistance levels: 1.1050, 1.1080, 1.1200, 1.1350, 1.1450
Nearest support levels: 1.0900, 1.0800, 1.0700, 1.0550, 1.0500, 1.0450, 1.0200
Currencies trading and British pound. The price of GBP/USD continued to decline and is currently consolidated around the level of 1.4800. Overcoming this level will be the reason for the continuing decline with the targets at 1.4600 and 1.4000. On the other hand, a signal of a trend change will be overcoming the resistance levels at 1,4950-1,5000. Our medium-term outlook remains negative.
Nearest resistance levels: 1.5000, 1.5200, 1.5250, 1.5300, 1.5500, 1.5675, 1.5700, 1.5800
Nearest support levels: 1.4800, 1.4700, 1.4600
Currencies trading and Japanese yen. The price of USD/JPY is consolidated within the local triangle after it stopped falling. For further decrease the price needs to break through the level of 120.20, but more likely is the resumption of growth and we recommend to open long positions with the stop below 120.20 after fixing above the level of 121.60. Our medium-term outlook remains positive.
Nearest resistance levels: 120.60, 121.50, 122.30, 123.60, 124.50, 125.00, 125.70, 128.00
Nearest support levels: 120.20, 119.00, 118.50, 118.00, 117.00
Currencies trading and Australian dollar. The price of AUD/USD is consolidating below the level of 0.7300, and after falling to the lower boundary of the local rising channel may continue to grow to 0.7350. According to our estimates, the growth potential is limited and we are waiting for the resumption of the negative dynamics of price in the near future with the objectives at 0.7000 and 0.6800. Our medium-term outlook is still negative.
Nearest resistance levels: 0.7300, 0.7400, 0.7500, 0.7600, 0.7700, 0.7800
Nearest support levels: 0.7200, 0.7150, 0.7080, 0.7000, 0.6900, 0.6750, 0.6600
Currencies trading and New Zealand dollar. The price of NZD/USD broke through the angled line of support and given the strong growth of previous periods and approaching to the important resistance level at 0.6900, it may continue to decline to the target levels at 0.6600, 0.6450 and 0.6250. At the moment, there is a good opportunity to sell with the stop above 0.6900. Our medium-term outlook is negative.
Nearest resistance levels: 0.6900, 0.7000, 0.7200
Nearest support levels: 0.6800, 0.6700, 0.6600, 0.6500, 0.6450, 0.6400, 0.6320, 0.6250