05.09.2014 - Technical view
The price of EUR/USD after consolidation below 1.3160 started to fall sharply and broke through the psychologically important level of 1.3000. At the moment the price is consolidating along the bottom of the downward channel. Falling the price may soon slow down, but according to our estimates the price will reach 1.2800. Correctional growth is limited by the level of 1.3000. We maintain a medium-term negative outlook for the euro.
Nearest resistance levels: 1.3000, 1.3100, 1.3160, 1.3200, 1.3240, 1.3300, 1.3350
Nearest support levels: 1.2900, 1.2800
The price of GBP/USD has broken through the level of 1.6450 above which recently consolidated and accelerated the decline. As a result, the price broke the lower limit of the downward channel and now is consolidating above the level of 1.6300. In case of correction, the price may rise to 1.6400. In the near future decline is likely to continue with the closest target of about 1.6200, but in the medium term, according to our estimates the growth will resume.
Nearest resistance levels: 1.6400, 1.6450, 1.6535, 1.6600, 1.6670, 1.6700, 1.6770, 1.6810
Nearest support levels: 1.6300, 1.6200
The price of USD/JPY after fixing the price above the level of 104.70 continued strong growth and has reached the next target level of 105.40 and the upper boundary of the rising channel. In case of fall the price may again fall to 104.70, but in the medium term will likely continue to move upwards inside the rising channel. We maintain a medium-term negative outlook.
Nearest resistance levels: 105.40, 106.00
Nearest support levels: 104.70, 104.00, 103.70, 103.00, 102.70, 102.20, 101.70
The price of AUD/USD yesterday showed a strong increase in volatility. Thus, the price reached the upper limit of the local rising channel, but after an unsuccessful attempt of growth started to decline, and currently is consolidating above the strong level of 0.9330. In case of continuation of the current negative dynamics quotations will reach the level of 0.9300 and bottom of the channel. Our medium-term outlook remains negative.
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 resumed decline in the descending channel after it has reached resistance at 0.8350. At the moment, the price broke through the level of a local minimum and reached the lower boundary of the channel. In case of correction, the price may once again correct to 0.8350. According to our forecasts, the price will continue the downward dynamics in the near future.
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