03.12.2014 - Technical view

The price of EUR/USD continued the downward trend and approached the important support level at 1.2360. The breaking of this level will be the basis for further drop in prices with the closest target near 1.2200. At the moment, there is a possibility of the price rebound to inclined resistance line. We maintain our medium-term negative outlook and recommend holding short positions with a stop above 1.2600.

Nearest resistance levels: 1.2500, 1.2560, 1.2600, 1.2700, 1.2825, 1.2925, 1.3000, 1.3160

Nearest support levels: 1.2360, 1.2200, 1.2000

The price of GBP/USD stabilized near mark of 1.5650 after a sharp decline that followed the failed attempt to break through the inclined resistance line. The fall in prices is limited by a strong support at 1.5600. Growth is possible to the nearest inclined resistance line. We expect lower volatility in the coming days, after which is projected a strong price movement. Medium-term trend remains negative.

Nearest resistance levels: 1.5750, 1.5800, 1.5960, 1.6000, 1.6200, 1.6300, 1.6400, 1.6450

Nearest support levels: 1.5600, 1.5500

The price of USD/JPY after the rebound from the bottom of the channel, has overcome the level of 119.00, and continued the upward movement. Continued growth is expected to the psychologically important mark of 120.00, after which growth will slow down and we can see the long-term consolidation. Fall is limited by the lower boundary of the channel, and we recommend holding long positions with a stop below 107.40. Our medium-term outlook also remains positive.

Nearest resistance levels: 120.00, 122.00, 125.00

Nearest support levels: 117.40, 115.00, 114.00, 113.00, 112.00, 110.00, 108.50, 107.60

The price of AUD/USD after consolidation below 0.8550, continued the downward movement and reached the bottom of the channel. In case of the price rebound from this boundary, quotes, can grow up to 0.8500. We recommend holding short positions with a stop above 0.8600 and target levels 0.8360 and 0.8200. We also maintain our medium-term negative outlook.

Nearest resistance levels: 0.8550, 0.8700, 0.8800, 0.8900, 0.9000, 0.9100, 0.9130

Nearest support levels: 0.8360, 0.8200

The price of NZD/USD after overcoming the level of 0.7825, continued to decline and reached 0.7780, above which is now consolidating. Fixing the price below this mark will be a signal for further price decline to the level of 0.7660. Our medium-term outlook remains negative and we recommend holding short positions with a stop above 0.7910 and objectives of 0.7500 and 0.7300.

Nearest resistance levels: 0.7825, 0.7900, 0.8000, 0.8050, 0.8270, 0.8350

Nearest support levels: 0.7780, 0.7660, 0.7500, 0.7300

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