10.09.2014 - Technical view

The price of EUR/USD rebounded from the bottom of the descending channel and has broken its upper boundary. Potential for further growth is limited by the psychologically important mark of 1.3000. At the moment, there is no reason to talk about a possible change in trend, and we expect that in the near future the price will continue to decline and will reach the target level of 1.2800. Our medium-term view remains negative.

Nearest resistance levels: 1.3000, 1.3100, 1.3160, 1.3200, 1.3240, 1.3300, 1.3350

Nearest support levels: 1.2860, 1.2800

The price of GBP/USD failed to break the level of 1.6050 and after a brief consolidation corrected upwards. Currently the quotes are consolidating near the upper boundary of the local downward channel and before long probably will brake though it. Correction is possible to the level of 1.6200. In the near future we are likely to see a continued decline with the target of about 1.6000. Increased volatility in prices is expected next week, but until then we should not rush with the opening of new positions.

Nearest resistance levels: 1.6200, 1.6300, 1.6400, 1.6450, 1.6535, 1.6600, 1.6670

Nearest support levels: 1.6000, 1.5500, 1.5000

The price of USD/JPY stabilized above the level of 106.00 and continues to consolidate within a narrow range. Bulls do not have enough strength for fixing outside the rising channel and in the near future the price will likely continue to move within it. Correction is possible to the bottom of the channel and the level of 105.40. We maintain our positive outlook for the medium-term.

Nearest resistance levels: 107.00, 108.50, 110.00

Nearest support levels: 106.00, 105.40, 104.70, 104.00, 103.70, 103.00, 102.70, 102.20

The price of AUD/USD is falling rapidly and broke the lower boundary the rising channel and a strong support level 0.9240. Fixing the price below 0.9220 gives reason to expect continuation of falling to 0.9100 and 0.9000. Correction is possible to 0.9220. We maintain a medium-term negative outlook and recommend holding short positions with a target level of 0.8900.

Nearest resistance levels: 0.9200, 0.9240, 0.9330, 0.9400, 0.9440, 0.9500, 0.9600

Nearest support levels: 0.9100, 0.9000, 0.8900

The price of NZD/USD reached the bottom of the channel and is consolidating near it. At the moment, the price cannot break this level and may soon begin to be corrected with a possible increase to the top of the channel and the level of 0.8350. We maintain a short-term negative outlook and expect strong growth volatility tonight.

Nearest resistance levels: 0.8270, 0.8350, 0.8400, 0.8425, 0.8470, 0.8530, 0.8560, 0.8600

Nearest support levels: 0.8220, 0.8200, 0.8100

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