08.12.2014 - Technical view

The price of EUR/USD on Friday started to decline sharply and has overcome the support level at 1.2300. At the moment, the quotes are consolidated above the lower boundary of the downward channel. In the near future we may see the price correction to the level of 1.2360 and the upper boundary of the channel. Our medium-term outlook remains negative and we expect fall of quotations of the euro in the medium term to the levels of 1.2200 and 1.2000.

Nearest resistance levels: 1.2360, 1.2500, 1.2560, 1.2600, 1.2700, 1.2825, 1.2925, 1.3000

Nearest support levels: 1.2200, 1.2000

The price of GBP/USD after a long consolidation within the triangle has broken its lower boundary at 1.5600 and in case of the price fixing below this mark, will continue to fall to the level of 1.5300. Growth of the price is limited by the resistance at 1.5600 and the inclined resistance line. Given the sell signal, we recommend to open short positions with the target near 1.5300 and the stop above 1.5750. According to our estimates in the near future will continue to decline quotations.

Nearest resistance levels: 1.5600, 1.5750, 1.5800, 1.5960, 1.6000, 1.6200, 1.6300, 1.6400

Nearest support levels: 1.5500, 1.5300, 1.5000

The price of USD/JPY after some consolidation near the level of 120.00, continued to grow and has broken through the upper boundary of the rising channel, above which is trying to gain a foothold. In case of reduction, quotes can be reduced to the level of 120.00 and the bottom of the channel. We recommend holding long positions and to move the stop to a level below 118.00. Our medium-term outlook also remains positive.

Nearest resistance levels: 122.00, 125.00

Nearest support levels: 120.00, 118.00, 117.40, 115.00, 114.00, 113.00, 112.00, 110.00

The price of AUD/USD continued to decline and is now is trying to gain a foothold under the lower boundary of the descending channel. Earlier, the price reached the target level of 0.8360, and has overcome it. Now, the closest target level is 0.8200, after which the quotes will fall to 0.8000. We maintain our medium-term negative outlook and recommend holding short positions with a stop above 0.8550.

Nearest resistance levels: 0.8360, 0.8550, 0.8700, 0.8800, 0.8900, 0.9000, 0.9100, 0.9130

Nearest support levels: 0.8200, 0.8000

The price of NZD/USD continues to fall and has broken the lower limit of the downward channel. At the moment, quotations reached the target level of 0.7660, broke through it and is trying to fix below this mark. In case of success, we expect fall of quotations to 0.7500. Our medium-term outlook remains negative and we recommend holding short positions with a stop above 0.7780.

Nearest resistance levels: 0.7660, 0.7780, 0.7825, 0.7900, 0.8000, 0.8050, 0.8270, 0.8350

Nearest support levels: 0.7500, 0.7300

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