04.09.2014 - Technical view

The price of EUR/USD continued to consolidate, has broken through the reclining resistance level and now is consolidating below 1.3160. Further growth is limited by a strong level of 1.3200. We expect continued downward movement with the objectives of 1.3100 and 1.2800. Medium-term trend remains negative and we expect continued current price dynamics in the medium term.

Nearest resistance levels: 1.3160, 1.3200, 1.3240, 1.3300, 1.3350, 1.3440, 1.3500

Nearest support levels: 1.3100, 1.3000, 1.2800

The price of GBP/USD after a rapid decrease stabilized above the level of 1.6450. In the near future we may see an upward correction to the upper boundary of the channel, but in the short term downward trend is likely to continue. Despite this, we expect the resumption of the upward movement of the price until the end of the month and maintain a medium-term positive outlook.

Nearest resistance levels: 1.6535, 1.6600, 1.6670, 1.6700, 1.6770, 1.6810, 1.6890

Nearest support levels: 1.6450, 1.6400, 1.6300

The price of USD/JPY after reaching the upper limit of the upward channel has corrected to the strong level of 104.70. Now quotations are consolidating above this mark and may continue to decrease to the lower boundary of the channel, but we expect continued upward movement with the closest target of 105.40. The signal for trend reversal will be price fixing below 103.70. Our medium-term outlook remains positive.

Nearest resistance levels: 105.40

Nearest support levels: 104.70, 104.00, 103.70, 103.00, 102.70, 102.20, 101.70

The price of AUD/USD failed to fix below 0.9280 the level of and within the strong growth compensated the loss of the previous day. At the moment the price is consolidating along the bottom of the rising channel and may continue to rise to 0.9370. Despite the strong upward momentum, we expect the resumption of downward movement and maintain a medium-term negative outlook.

Nearest resistance levels: 0.9370, 0.9440, 0.9500, 0.9600

Nearest support levels: 0.9330, 0.9240, 0.9200, 0.9100, 0.8900

The price of NZD/USD after reaching the level of 0.8300 rebounded upwards and now is consolidating within a narrow corridor around 0.8325. The growth of price is limited by the level of resistance at 0.8350 and the upper limit of the downward channel. The signals to buy will be fixing the price above 0.8400. In such case, the price is likely to reach levels of 0.8530 and 0.8600. We expect a further decline in the short term.

Nearest resistance levels: 0.8330, 0.8400, 0.8425, 0.8470, 0.8530, 0.8560, 0.8600

Nearest support levels: 0.8220, 0.8200, 0.8100

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