03.11.2014 - Technical view

The price of EUR/USD reached the target level of 1.2500 and continued to fall. The next upside target level is 1.2200, for achieving of which the price at first needs to fix below 1.2500. We recommend holding short positions and to move the stop to the level of 1.2750. At the moment, there is no reason to change the negative dynamics into positive and we maintain a medium-term negative outlook for the euro.

Nearest resistance levels: 1.2500, 1.2600, 1.2700, 1.2825, 1.2925, 1.3000, 1.3160

Nearest support levels: 1.2450, 1.2200, 1.2000

The price of GBP/USD continues to consolidate within the range 1,5960-1,6000. Further reduction is limited by the level of the local minimum near 1.5880. The potential for further reduction of the British pound is low and we expect the resumption of growth in the medium term. Signals to open long positions will be fixing the price above the level of 1.6200. We maintain a positive outlook for the medium-term, but recommend to wait for the confirmation of the signal for opening of long positions.

Nearest resistance levels: 1.6000, 1.6200, 1.6300, 1.6400, 1.6450

Nearest support levels: 1.5960, 1.5880, 1.5800, 1.5600

The price of USD/JPY reached the target level of 112.00 and continued the upward movement. Given the strong ascending impulse, we expect continued growth of quotations to the level of 115.00. Correction is possible to the levels of 112.00 and 110.00. We recommend to hold long positions and to move the stop to a level below 110.00. Our medium-term outlook also remains positive.

Nearest resistance levels: 115.00, 120.00

Nearest support levels: 112.00, 110.00, 108.50, 107.60, 107.00, 106.00, 105.40, 104.70

The price of AUD/USD has broken through the lower boundary of the local rising channel and has reached the level 0.8700 above which is now consolidating. Further reduction is limited by the strong support level near 0.8660. The price growth is limited by the upper boundary of the rising channel and the level of 0.8925, above which should be set a stop. We maintain a medium-term negative outlook and recommend holding short positions with the objectives of 0.8500 and 0.8360.

Nearest resistance levels: 0.8800, 0.8900, 0.9000, 0.9100, 0.9130, 0.9200

Nearest support levels: 0.8660, 0.8600, 0.8550, 0.8500, 0.8360

The price of NZD/USD reached a strong support at 0.7740 but failed to break through it. At the moment, there is a probability of the price rebound from this level to 0.7800 or the upper limit of the local downward channel. We expect fixing the price below the mark 0.7740, after which the decline may accelerate. Our medium-term outlook for the New Zealand dollar remains negative.

Nearest resistance levels: 0.7800, 0.7950, 0.8000, 0.8050, 0.8270, 0.8350

Nearest support levels: 0.7740, 0.7700, 0.7500

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