03.07.2014 - Technical view
The price of EUR/USD corrected downwards from the top of the channel to the bottom and now is consolidating around the support level 1.3650. To continue the decline, the price needs to break through the bottom of the channel and is consolidating below 1.3650. Growth is limited by the level of the nearest high around 1.3700. We maintain a medium-term negative outlook for the euro.
Nearest resistance levels: 1.3665, 1.3700, 1.3750, 1.3790
Nearest support levels: 1.3590, 1.3530, 1.3500, 1.3400
The price of GBP/USD continues to consolidate in a narrow corridor around 1.7150. Further growth is limited by the inclined resistance line. In case of correction, the price can decrease to 1.7100 and 1.7060. We expect the price growth in the medium term, but do not exclude the price correction in the near future.
Nearest resistance levels: 1.7200, 1.7300
Nearest support levels: 1.7100, 1.7060, 1.7000, 1.6950, 1.6900, 1.6810, 1.6770
The price of USD/JPY within the growth has broken the upper limit of downtrend channel and resistance at 101.80. Further growth is possible up to 102.20, and then the price may continue to move up to 102.70. Correction is possible to 101.60. We expect the price growth in the medium term with targets at 102.70 and 104.00.
Nearest resistance levels: 102.20, 102.70, 103.00, 104.00, 104.70
Nearest support levels: 101.60, 101.40, 100.90, 100.00
The price of AUD/USD was unable to hold above a strong level 0.9440 and continued to decline during which broke 0.9400 and now is heading to 0.9360. Taking into account breaking through the inclined line of support, we recommend opening short positions with the objectives of 0.9330 and 0.9220. We maintain a medium-term negative outlook for the Australian dollar.
Nearest resistance levels: 0.9440, 0.9500, 0.9600
Nearest support levels: 0.9360, 0.9300, 0.9220, 0.9200
The price of NZD/USD continues to consolidate between the bottom of the rising channel and the resistance level 0.7880. Potential for further growth is little, and we expect reversal of the upward trend. In such a case, a signal to sell will be price fixing below 0.8740. Within the fall the price can decrease to 0.8660 and 0.8560.
Nearest resistance levels: 0.8780, 0.8800
Nearest support levels: 0.8660, 0.8600, 0.8560, 0.8480