03.06.2014 - Technical view

The price of EUR/USD continues to consolidate near the level of 1.3600 and is trading within the local descending channel. To continue the downward movement with the target at 1.3540, the price needs to fix below 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

Nearest support levels: 1.3590, 1.3540

The price of GBP/USD continues to move below the strong level of 1.6770. To continue the upward movement the price needs to gain a foothold above 1.6770. In this case, the quotes can reach levels of 1.6840 and 1.6900. 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 has overcome the strong level of 102.00 and reached 102.40. Closest target is the level of 102.70, after which, the price can reach 104.00. Within the correction, the price may fall to 102.00. 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: 102.00, 101.40, 100.90

The price of AUD/USD slowed the decline near the level of 0.9240. In case of further decrease, a signal to sell will be fixing the price below the nearest local minimum of about 0.9220. Within upward correction, the price may rise to 0.9280. 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 continued to decline within the descending channel. Growth is limited by the upper boundary of the channel and the resistance level of 0.8520. With a further fall, the price will reach the support at 0.8400. We expect continued downward movement in the medium term.

Nearest resistance levels: 0.8520, 0.8600, 0.8690, 0.8700, 0.8740, 0.8780

Nearest support levels: 0.8420, 0.8400

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