02.06.2014 - Technical view
The price of EUR/USD has corrected upwards within the local descending channel, but could not overcome the level of 1.3650 and resumed its decline. With a further fall, the price may reach the nearest local maximum of 1.3590. Growth is limited by the resistance levels at 1.3650 and 1.3700. We recommend holding short positions on the euro and save the medium and long term negative outlook for the euro.
Nearest resistance levels: 1.3650, 1.3700, 1.3750, 1.3790, 1.3850, 1.3900, 1.3955, 1.4000
Nearest support levels: 1.3590, 1.3540
The price of GBP/USD has reached the strong level of 1.6770, but failed to gain a foothold above it and retreated downwards. To continue the upward movement, the price needs to gain a foothold above this level. Fall is limited by the support at 1.6700. We expect the resumption of the upward price movement in the near future and keep medium and long-term positive outlook for the pound.
Nearest resistance levels: 1.6770, 1.6840, 1.6900, 1.7000
Nearest support levels: 1.6700, 1.6560
The price of USD/JPY again reached the level of 102.00 and is consolidating near this mark. For continued growth, the price needs to gain a foothold above this mark. In such case the targets will be the levels of 102.70 and 104.00. Fall is limited by the support at 101.40. We maintain our medium and long-term positive outlook for the pair.
Nearest resistance levels: 102.70, 103.00, 104.00, 104.70
Nearest support levels: 101.40, 100.90
he price of AUD/USD fell sharply and reached 0.9560, near which is now consolidating. Rebound is possible to 0.9300. In case of further decrease, a signal to sell will be fixing the price below the nearest local minimum of about 0.9220. We maintain a medium-term negative outlook for the Australian dollar.
Nearest resistance levels: 0.9280, 0.9300, 0.9460
Nearest support levels: 0.9220, 0.9200, 0.9100
The price of NZD/USD continues to move through the local downward channel and now is consolidating near the mark 0.8480. In case of correction, the price may rise to 0.8520. We expect further price reduction within the channel and keep the medium-term and long-term negative outlook.
Nearest resistance levels: 0.8520, 0.8600, 0.8690, 0.8700, 0.8740, 0.8780
Nearest support levels: 0.8450, 0.8420