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16.03.2016 - TECHNICAL VIEW

Currencies trading and euro. The price of EUR/USD continues to decline and is currently located near the rising channel's lower border. In case of continued decline and overcoming of support at 1.1050, the fall will continue until 1.0985. The nearest resistance level remains at 1.1200. Today we expect a strong price movement, and the more likely scenario will be a continuation of the negative dynamics with the objectives at 1.0800 and 1.0700. Our medium-term outlook also remains negative.

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 has broken the lower boundary the local rising channel and may soon reach the support levels at 1.4080 and 1.4000. We do not exclude the price correction today, but the more likely scenario will be saving of a negative impulse and a fall of price to a local minimum near 1.3860. Our medium-term outlook is 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 shows a slight increase, but continues to consolidate within the range 111,00-114,70. Breaking its upper limit will be the signal for opening long positions with potential targets at 117.00, 118.80 and 121.50. Our medium-term outlook remains positive, and after a long consolidation, we expect a strong price movement.

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 continued to fall after failing to fix above the level of 0.7500. The nearest resistance level is 0.7400, and its overcoming become the reason to open short positions with the first target at 0.7240, after reaching of which negative dynamic may continue up to 0.7000 and 0.6840. Our medium-term outlook remains negative and we are waiting for the price reduction in the near future.

Nearest resistance levels: 0.7500, 0.7700, 0,7800, 0,6000

Nearest support levels: 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 continued to fall and broke through the inclined support line. Now the quotes are near important level of 0.6600, after breaking through which we recommend to open short positions with the targets at 0.6450 and 0.6250. In the case of rebound from this level, the price may rise to a sloping resistance line. We expect the price decline in the near future.

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


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