04.06.2014 - Technical view
The price of EUR/USD increased within the local downlink channel and corridor 1,3590-1,3650 to 1.3650 but failed to overcome this level and started to correct. 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 reached the upper limit of the downward channel and began to decline. Fall is limited by the support at 1.6700. 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. 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 reached the target level of 102.70 and now is trying to gain a foothold above it. In case of further growth, the price can reach 104.00. At the moment the quotes of the pair reached the upper limit of the upward channel, which can lead to a downward correction with target at 102.40. We maintain our medium-and long-term positive outlook for the pair and recommend holding long positions.
Nearest resistance levels: 103.00, 104.00, 104.70
Nearest support levels: 102.40, 102.00, 101.40, 100.90
The price of AUD/USD showed an increase in volatility, but now the quotes are consolidating above 0.9250. Further growth is limited by the resistance levels at 0.9280 and 0.9300. In case of reduction, a signal to sell will be price fixing below 0.9220. We maintain a medium-term negative outlook for the Australian dollar, but we expect the growth in the coming days.
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 0.8460. 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