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05.04.2016 - ​TECHNICAL VIEW by fxfinpro capital

Currencies trading and euro. The price of EUR/USD is consolidating below the important level of resistance at 1.1400 and in the case of its overcoming it may continue to grow to the level of 1.1500. On the other hand, at the moment there is the possibility of renewed negative dynamics with the potential decrease to the rising channel's lower border. After its breaking through, we expect a further fall in prices to the level of 1.1200 and 1.1050. Our medium-term outlook remains negative.

Nearest resistance levels: 1.1400, 1.1450, 1.1500

Nearest support levels: 1.1350, 1.1200, 1.1050, 1.0985, 1.0900, 1.0800, 1.0700, 1.0550

Currencies trading and British pound. The price of GBP/USD after the recent rebound from the support level at 1.4180, resumed fall and may continue to decline to 1.4050 and 1.3860. The price growth is limited by the resistance levels at 1.4400 and 1.4500. We maintain our medium-term negative outlook and expect a continuation of negative dynamics in the near future.

Nearest resistance levels: 1.4400, 1.4500, 1.4640, 1.4700, 1.4800

Nearest support levels: 1.4180, 1.4050, 1.3840, 1.3600, 1.3500

Currencies trading and Japanese yen. The price of USD/JPY continued to decline during which returned to a strong level of support at 111.00 and broke through it. Overcoming the resistance level at 110.60 will be the basis for the continuation of the negative price dynamics with the target at 108.00. After a strong decrease, we expect to see renewed growth with the first targets around the inclined line of resistance and the level of 114.70. Our medium-term outlook remains positive.

Nearest resistance levels: 111.00, 112.15, 113.00, 114.70, 116.00, 118.80, 120.20, 121.50

Nearest support levels: 110.60, 108.00, 105.00, 103.00

Currencies trading and Australian dollar. The price of AUD/USD after reaching the level of 0.7700, the fall has resumed and reached the inclined support line and the level of 0.7575. Fixing the price below these marks will be a signal for the opening short positions with the first targets at 0.7400 and 0.7250. The growth in the near future is limited by the local maximum at 0.7700. Our medium-term outlook remains negative and we are waiting for the signal to sell.

Nearest resistance levels: 0.7700, 0,7800, 0,6000

Nearest support levels: 0.7575, 0.7400, 0.7350, 0.7240, 0.7120, 0.7000, 0.6840, 0.6800

Currencies trading and New Zealand dollar. The price of NZD/USD has resumed the fall after approached the important resistance level at 0.7000. Currently quotes are below 0.6800, which is the basis for the continuation of negative dynamics of price with the objectives near the rising channel's lower border, and the levels 0.6600 and 0.6450. In case of resumption of growth, quotations may again approach the level of 0.7000. Our medium-term outlook remains negative.

Nearest resistance levels: 0.6820, 0.6900, 0.7000

Nearest support levels: 0.6600, 0,6560, 0.6450, 0.6400, 0.6320, 0.6250, 0.6200


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