09.10.2014 - Technical view

The price of EUR/USD has broken through the upper edge of the channel and strong resistance level at 1.2700. In case of further growth, quotations will continue an upward motion to the level of 1.2827, fixing the price above which will be a signal to take profits on short positions. Despite the anticipation of price growth in the near future, we expect a price drop in the medium term and recommend holding short positions.

Nearest resistance levels: 1.2825, 1.3000, 1.3100, 1.3160, 1.3200, 1.3240

Nearest support levels: 1.2700, 1.2500, 1.2450, 1.2200

The price of GBP/USD has overcome the local resistance level 1.6100 and approached the level of 1.6200. Considering the strong upward momentum, we expect continued growth to the level of 1.6250. Today is forecasted the rise of price volatility. In case of fixing quotes above 1.6300, we recommend to open long positions with the targets around 1.6670 and 1.6900. Our medium-term outlook remains positive.

Nearest resistance levels: 1.6200, 1.6300, 1.6400, 1.6450, 1.6535, 1.6600

Nearest support levels: 1.6100, 1.6050, 1.6000, 1.5800, 1.5600

The price of USD/JPY continues to consolidate near the level of 108.00. It is worth mentioning that earlier quotations broke through the lower boundary of the rising channel and a strong support level at 108.50. In case of continued downward movement, quotations may reach the level of support at 107.00. Growth is limited by the level of 110.00. We maintain our positive outlook for the medium-term, but in the near future may see a slight decrease in the price.

Nearest resistance levels: 108.50, 110.00, 111.00, 115.00, 120.00

Nearest support levels: 107.00, 106.00, 105.40, 104.70, 104.00, 103.70

The price of AUD/USD managed to break through the strong resistance level at 0.8800 and continued the growth. In case of further growth, the price will reach the level 0.9000, fixing above it will be the signal of profit-taking on short positions. Despite the current upward trend, we keep medium-term negative outlook for the Australian dollar and recommend holding short positions with the target near 0.8500.

Nearest resistance levels: 0.8900, 0.9000, 0.9100, 0.9130, 0.9200

Nearest support levels: 0.8800, 0.8665, 0.8600, 0.8550, 0.8500

The price of NZD/USD has broken through the strong resistance level 0.7900 and continued the upward movement. At the moment, there is a great probability of continuation of price growth to the levels of 0,8050-0,8085. Despite the strong ascending impulse, the price increase, according to our estimates will be fairly limited and our medium-term view remains negative.

Nearest resistance levels: 0.8000, 0.8050, 0.8270, 0.8350

Nearest support levels: 0.7900, 0.7820, 0.7740, 0.7700, 0.7500

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