11.03.2016 - TECHNICAL VIEW by FXFINPRO CAPITAL
Currencies trading and euro. The price of EUR/USD has shown a strong rise in volatility, and after falling to a local minimum at 1.0820, renewed growth and reached the important resistance level at 1.1200. In case of its overcoming, growth will continue to 1.1300 and 1.1375. At the moment, there is the possibility of renewed negative dynamics of prices with targets at 1.1050 and 1.0985. We maintain our medium-term negative outlook and expect a downward price movement in the near future.
Nearest resistance levels: 1.1200, 1.1350, 1.1400, 1.1450, 1.1500
Nearest support levels: 1.1050, 1.0985, 1.0900, 1.0800, 1.0700, 1.0550
Currencies trading and British pound. The price of GBP/USD could not overcome the lower boundary of the local rising channel, but broke through the upper boundary of the descending corridor. But soon growth may continue to 1.4365 and 1.4500. On the other hand, there is the possibility of renewed negative dynamics of the price to 1.4000 and 1.3840. Our medium-term outlook remains negative.
Nearest resistance levels: 1.4365, 1.4400, 1.4500, 1.4640, 1.4700, 1.4800
Nearest support levels: 1.4080, 1.4000, 1.3860, 1.3600, 1,3500
Currencies trading and Japanese yen. The price of USD/JPY has not reached the resistance level at 114.70 and fell to 113.00. Currently quotes are around this level and in case of the resumption of the negative dynamics may fall to 111.00. We expect a continuation of price consolidation in the near future, and after overcoming the level of 114.70, we recommend to open long positions with targets at 117.00, 118.80 and 121.50. Our medium-term outlook remains positive.
Nearest resistance levels: 114.70, 116.00, 118.80, 120.20, 121.50, 122.30
Nearest support levels: 113.00, 112,00, 111.00, 110.00
Currencies trading and Australian dollar. The price of AUD/USD has shown growth today after yesterday's fall and returned to the level of 0.7500. Fixing the price above the level of 0.7500 will be the cause for further growth to 0.7700, but the more likely scenario is a drop in prices inside the rising channel to 0.7400, 0.7240 and bottom of the channel. Our medium-term outlook remains negative and we expect a fall in the near future.
Nearest resistance levels: 0.7500, 0.7700
Nearest support levels: 0.7400, 0.7350, 0.7240, 0.7120, 0.7000, 0.6840, 0.6800, 0.6750
Currencies trading and New Zealand dollar. The price of NZD/USD corrected upwards after the sharp fall yesterday. In case of breaking through the level 0.6600, quotes will continue to drop to 0.6450 and 0.6250. The current correction is limited by the level of 0.6750. Our medium-term outlook remains negative and we expect a continuation of the negative dynamics.
Nearest resistance levels: 0.6800, 0.6900, 0.7000
Nearest support levels: 0.6600, 0,6560, 0.6450, 0.6400, 0.6320, 0.6250, 0.6200, 0.6000