07.01.2015 - Technical view

The price of EUR/USD is continuing to decline and according to our estimates in the near future will reach the level of 1.1800. In case of upward correction, quotations may grow to the psychologically important level of 1.2000. At the moment, we see no reason for changing the downward trend and recommend holding short positions with the targets 1.1800 and 1.1500 and stop above 1.2250. The medium-term outlook also remains negative.

Nearest resistance levels: 1.2000, 1.2165, 1.2250, 1.2360, 1.2500, 1.2560, 1.2600, 1.2700

Nearest support levels: 1.1800, 1.1500

The price of GBP/USD after overcoming the support level at 1.5200, continued to decline. Growth of the price is limited by the oblique line of resistance, and the levels of 1.5200 and 1.5300. Most likely in the near future is the continuation of downward movement of the price to the level of 1.5000, after which we can see the rebound of prices upwards. Our medium-term outlook remains negative and we recommend holding short positions.

Nearest resistance levels: 1.5200, 1.5300, 1.5500, 1.5750, 1.5800, 1.5960, 1.6000, 1.6200

Nearest support levels: 1.5000

The price of USD/JPY corrected upwards after breaking through the level of 119.00. At the moment, the quotes are consolidated below this mark and in case of fixing the price below 119.00 may continue the downward movement with the objectives at 117.40 and 115.00. The growth in the near future is limited by the levels of 120.75 and 122.00. We recommend to wait for a confirmation of the signal for opening positions, but maintain a medium-term positive outlook.

Nearest resistance levels: 120.00, 120.75, 122.00, 125.00

Nearest support levels: 117.40, 115.00, 114.00, 113.00, 112.00, 110.00

The price of AUD/USD after the upward correction, resumed falling and now is trying to reach the level of a local minimum. It is worth noting that we expect reduction of price to the level of 0.8000 in the near future and do not see any preconditions for changing the downward trend. The growth of quotations is limited by the levels of 0.8200 and 0.8360. The medium-term negative outlook remains unchanged.

Nearest resistance levels: 0.8200, 0.8360, 0.8550, 0.8700, 0.8800, 0.8900, 0.9000

Nearest support levels: 0.8000, 0.7600, 0.7500

The price of NZD/USD the downward movement resumed after within correction it has reached the level of 0.7800. Continued growth and overcoming the strong resistance level at 0.7850 is unlikely and we save negative medium-term expectations for quotations of the New Zealand dollar with a target at 0.7500. We also recommend holding short positions with a stop above 0.7910.

Nearest resistance levels: 0.7780, 0.7800, 0.7850, 0.7900, 0.8000, 0.8050, 0.8270

Nearest support levels: 0.7660, 0.7500, 0.7300

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