08.08.2014 - Technical view
The price of EUR/USD after yesterday's slight upward correction resumed the downward movement and now is consolidating around the level of a local minimum of1.3350. Change the current negative dynamics is possible in case of fixing the price above 1.3440. We recommend holding short positions and maintain a medium-term negative outlook with the objectives of 1.3200 and 1.2800.
Nearest resistance levels: 1.3440, 1.3500, 1.3530, 1.3590, 1.3665, 1.3700
Nearest support levels: 1.3300, 1.3200, 1.3160, 1.3000, 1.2800
The price of GBP/USD continued the downward movement along the inclined line of resistance and now is consolidating near the strong level of 1.6810. To continue the downward movement, the price needs to fix below this mark. In case of breaking through the inclined resistance line, a buy signal will be fixing the price above 1.6890. We expect the resumption of growth and maintain a positive outlook for the medium-term, but assume the continuation of the downward movement of prices in the near future.
Nearest resistance levels: 1.6900, 1.7000, 1.7050, 1.7100, 1.7180, 1.7200, 1.7300
Nearest support levels: 1.6770, 1.6700
The price of USD/JPY accelerated the decline after breaking the inclined support line and reached the nearest support level at 101.70. Further fall is limited by the level of 102.20. In the near future, the downward movement may continue, but in the medium term, we expect the resumption of growth with the objectives of 102.70, 104.00 and 104.70.
Nearest resistance levels: 102.20, 102.70, 103.00, 104.00, 104.70
Nearest support levels: 101.70, 101.15, 100.90, 100.00
The price of AUD/USD after fixing the price below 0.9280, continued to decline within the descending channel. Growth is limited by the resistance levels at 0.9280 and 0.9330. We recommend holding short positions on the Australian dollar with the closest targets at 0.9220 and 0.9100. Our medium-term outlook also remains negative.
Nearest resistance levels: 0.9280, 0.9330, 0.9440, 0.9500, 0.9600
Nearest support levels: 0.9220, 0.9200, 0.9100
The price of NZD/USD after reaching the upper limit of the downward channel has started to decline, and within the fall may reach the mark of 0.8400. Change of the trend is possible after breaking the upper limit of the downward channel and overcoming the resistance levels at 0.8530 and 0.8560. To determine the medium-term price movement, we will need new signals.
Nearest resistance levels: 0.8560, 0.8600, 0.8660, 0.8720, 0.8780, 0.8800
Nearest support levels: 0.8400, 0.8300