08.07.2014 - Technical view
The price of EUR/USD increased slightly and is consolidating around the level 1.3600 after failing to fix below 1.3590. The price may continue to grow, but it is limited by the levels 1.3640 and 1.3665. We estimate more probable fixing the price below 1.3590 and decline to 1.3530, after which the price may continue to fall to 1.3400. Mid-term vision remains negative.
Nearest resistance levels: 1.3640, 1.3665, 1.3700, 1.3750, 1.3790
Nearest support levels: 1.3590, 1.3530, 1.3500, 1.3400
The price of GBP/USD after a slight decline pushed away from the inclined support line and continues to move along it. Growth is limited by the level of two-year highs around 1.7180, after overcoming of which the next goal will become 1.7300. In case of a change of trend and price fixing below 1.7100, we recommend to open short positions with the targets at 1.7060 and 1.6950. Medium-term outlook remains positive.
Nearest resistance levels: 1.7180, 1.7200, 1.7300
Nearest support levels: 1.7100, 1.7060, 1.7000, 1.6950, 1.6900, 1.6810, 1.6770
The price of USD/JPY was unable to overcome an important level 102.20 and retreated downwards. Price decline below 102.00 finished the formation of the figure - "double top" and the price continued to decline sharply. Now fall has slowed and may stop near the level of 101.60. We maintain our positive outlook for the medium-term and recommend opening long positions after fixing the price above 102.20.
Nearest resistance levels: 102.20, 102.70, 103.00, 104.00, 104.70
Nearest support levels: 101.60, 101.40, 100.90, 100.00
The price of AUD/USD accelerated the upward movement and almost reached an important level 0.9400. Continued growth is limited by the resistance at 0.9440 and 0.9500. Considering our negative expectations for the price of the Australian dollar, we recommend to wait for entry points to open short positions with the target of decline to 0.9200.
Nearest resistance levels: 0.9440, 0.9500, 0.9600
Nearest support levels: 0.9330, 0.9300, 0.9220, 0.9200
The price of NZD/USD still moves within the side channel and showed a slight increase. Continued upward movement is unlikely due to the strong resistance at 0.8780. Movement range may soon expand to 0,8660-0,8780. Opening positions is recommended only after going beyond this corridor. We maintain our neutral medium-term outlook.
Nearest resistance levels: 0.8780, 0.8800
Nearest support levels: 0.8660, 0.8600, 0.8560, 0.8480