08.09.2014 - ​Technical view

The price of EUR/USD after a sharp drop and upward correction, stabilized around the level of 1.2950. At the moment, the price is moving inside the descending channel and probably in the near future will continue to consolidate around current levels. In case of growth, the price can rise up to 1.3000. Our medium-term outlook remains negative with a target level of 1.2800.

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 started trading week with a downward gap and hit its target level of 1.6200 after it has broken through the lower limit of the downward channel. In case of correction, the price can close the gap and reach the mark of 1.6300, but the more likely is the continuation of the price fall in the medium term. The short-term outlook remains negative, and it is too early to talk about a possible change in trend.

Nearest resistance levels: 1.6300, 1.6400, 1.6450, 1.6535, 1.6600, 1.6670, 1.6700, 1.6770

Nearest support levels: 1.6200, 1.6100, 1.6000

The price of USD/JPY continues to move within the corridor 104,70-105,40 and does not leave the limits of the rising channel. To continue the upward movement the price needs to break the level 105.40. In case of a change of trend, a signal to open short positions will be fixing the price below the lower border of the channel and the level of support 104.70. We maintain our positive outlook for the medium-term.

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 once again reached the upper boundary of the rising channel and failed to break through it. At the moment the price is consolidating around the level of 0.9350. In case of continued decline, the quotations may fall to 0.9300 and 0.9240. Confirmation of a sell signal will be fixing the price below 0.9240. Growth is limited by the level of 0.9440. We maintain a medium-term negative outlook, but admit the possibility of further growth in the near future.

Nearest resistance levels: 0.9400, 0.9440, 0.9500, 0.9600

Nearest support levels: 0.9330, 0.9240, 0.9200, 0.9100, 0.8900

The price of NZD/USD keeps moving inside the descending channel after it failed to break the level of 0.8350. In case of growth, a buy signal will be a break through the upper boundary of the descending channel and fixing the price above the level of 0.8400. We predict that in the near future the price will continue to fall within the channel and recommend holding short positions.

Nearest resistance levels: 0.8350, 0.8400, 0.8425, 0.8470, 0.8530, 0.8560, 0.8600

Nearest support levels: 0.8270, 0.8220, 0.8200, 0.8100

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