07.10.2014 - Technical view
The price of EUR/USD yesterday showed a substantial correction and reached SMA50 and approached the level of 1.2700. It is worth noting that despite the strong momentum, quotations resumed the downward movement and according to our forecasts soon will reach the level of a local minimum at 1.2500. Change of the trend is possible in case of fixing prices above 1.2825. We maintain a medium-term negative outlook and recommend holding short positions on the euro.
Nearest resistance levels: 1.2700, 1.2825, 1.3000, 1.3100, 1.3160, 1.3200, 1.3240
Nearest support levels: 1.2500, 1.2450, 1.2200
The price of GBP/USD returned to the descending channel after yesterday's strong growth, but failed to break its upper border and continued to grow. As a result quotations resumed the downward movement that is likely to continue in the near future. Change of the current downward trend is possible in case of overcoming and fixing the prices above the level 1.6200. We expect further price decline in the near future, but note little potential for a fall.
Nearest resistance levels: 1.6050, 1.6200, 1.6300, 1.6400, 1.6450, 1.6535, 1.6600
Nearest support levels: 1.6000, 1.5800, 1.5600
The price of USD/JPY pushed away from the lower limit of the corridor 108,50-110,00. In the near future quotations will reach 110.00, fixing the price above which will confirm the signal to re-purchase. In case of a fall, we recommend to open short positions after fixing the price below the local minimum of about 108.00. Our medium-term outlook remains positive and we expect growth to the levels of 115.00 and 120.00.
Nearest resistance levels: 110.00, 111.00, 115.00, 120.00
Nearest support levels: 108.50, 107.00, 106.00, 105.40, 104.70, 104.00, 103.70
The price of AUD/USD completed corrective movement after rebounded from the support level 0.8665. In case of continued growth and consolidation of the price above 0.8800, we recommend to take profits on short positions and to open long ones. At the moment the price is consolidating below 0.8800 and we expect the resumption of the downward movement, which accelerated after breaking through the level of 0.8665. Our medium-term outlook remains negative.
Nearest resistance levels: 0.8800, 0.8900, 0.9000, 0.9100, 0.9130, 0.9200
Nearest support levels: 0.8665, 0.8600, 0.8550, 0.8500
The price of NZD/USD has grown to SMA 50 within the correction, but was unable to continue the growth and reach the next level of resistance around 0.7900. Currently quotations decrease and may continue downward movement in case of breaking through the level of 0.7740. Growth is limited by the levels of 0.7900 and 0.8000. We maintain a medium-term negative outlook for the New Zealand dollar.
Nearest resistance levels: 0.7820, 0.7900, 0.8000, 0.8050, 0.8270, 0.8350, 0.8400
Nearest support levels: 0.7740, 0.7700, 0.7500