04.07.2014 - Technical view
The price of EUR/USD after a brief consolidation has broken through the lower boundary of the rising channel and sharply decreased to 1.3600. To continue the downward movement with the target of about 1.3530, the price should be fixed below 1.3590. Growth is limited by the resistance at 1.3650. We maintain a medium-term negative outlook with the targets at 1.3500 and 1.3400.
Nearest resistance levels: 1.3650, 1.3665, 1.3700, 1.3750, 1.3790
Nearest support levels: 1.3590, 1.3530, 1.3500, 1.3400
The price of GBP/USD after attempting to reduce has returned to the level of 1.7160 and continues to consolidate near it. For further growth, the price has to gain a foothold above it. Within the correction, the quotes of the pair can descend to the level of the nearest local minimum of about 1.7100 and sloping support line. The price will probably continue to rise in the medium term.
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 reached the first target level around 102.20, but started to correct downwards after it failed to overcome it after the first attempt. In case of further decrease the price may fall to 102.00. To continue the upward movement, the quotes have to overcome the resistance at 102.20. We expect growth of price with the objectives of 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 rebounded from the support line at 0.9330 after it sharply declined in the previous days. Correction may continue up to 0.9390, but we expect that after some consolidation, the price of the pair again will start to decline with the target of 0.9220. Signal for the re-opening of short positions will be fixing of quotes below 0.9330.
Nearest resistance levels: 0.9440, 0.9500, 0.9600
Nearest support levels: 0.9330, 0.9300, 0.9220, 0.9200
The price of NZD/USD has broken through the lower boundary of the rising channel and started to decline, but was unable to fix below the strong level 0.8740 and returned to the side corridor 0,8740-0,8780. Obviously, further growth is unlikely and the price most likely will begin a gradual decline. A signal to sell in such case will be fixing the price below 0.8720. We expect a slight price drop of the New Zealand dollar in the medium term.
Nearest resistance levels: 0.8780, 0.8800
Nearest support levels: 0.8740, 0.8660, 0.8600, 0.8560, 0.8480