09.12.2014 - Technical view

The price of EUR/USD pushed away from the level of 1.2250 and the lower limit of the downward channel. In case of continued growth price within the correction, quotations may reach the level of 1,2360-1,2400. Breaking through the upper boundary of the channel and change of the trend in the near future is unlikely. We recommend holding short positions on the euro and maintain a medium-term negative outlook.

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 corrected upwards to the inclined resistance level and now is consolidating around the mark of 1.5650. According to our forecasts in the coming days, quotes will reach the target level of 1.5500. For the continuation of the current dynamics, the price will need to break through this level. Downward trend will continue in the near future and now there is no reason to change the downward trend.

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

Nearest support levels: 1.5600, 1.5500, 1.5300, 1.5000

The price of USD/JPY broke through the 120.00 level of and returned within the channel. At the moment, the quotes have reached the bottom of the channel and in case of breaking through it can correct to 119,00 and 118,00. In case of overcoming the level of 118.00, we recommend to fix long positions and to wait for further signals. Now we recommend holding long positions and maintain a medium-term positive outlook with the targets around 125.00.

Nearest resistance levels: 120.00, 122.00, 125.00

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

The price of AUD/USD has broken the lower boundary of the local descending channel and continues to fall along the local downward line of resistance. In the near future we expect a drop in prices to the psychologically important 0.8000 level of. We continue to recommend holding short positions and maintain a medium-term negative outlook.

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 after a strong decrease is trying to gain a foothold below the strong level of 0.7660. In case of success, quotes will continue to decline with the closest target near 0.7500. Growth within the correction is limited by the sloping resistance line. According to our estimates the downward price movement will continue in the medium term and we recommend holding short positions with a stop above 0.7825.

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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