10.11.2014 - Technical view
The price of EUR/USD after a brief consolidation below 1.2400, started to grow and reached a sloping resistance line. Further growth is limited by an important level 1.2600 fixing the price above which is unlikely. We recommend holding short positions with a stop above the level of 1.2750 and target levels 1.2200 and 1.2000. Our medium-term outlook remains negative.
Nearest resistance levels: 1.2500, 1.2600, 1.2700, 1.2825, 1.2925, 1.3000, 1.3160
Nearest support levels: 1.2200, 1.2000
The price of GBP/USD after reaching the lower limit of the downward channel started to correct upwards and reached the level of 1.5900. According to our estimates in the near future the price will reach the strong resistance level 1.5960. To overcome the level of 1.6000 will be required a significant incentive. The price growth is limited by the upper boundary of the channel and the level of 1.6100. In case of continued growth, the signal of a trend change will be fixing quotations above 1,6200. We maintain a positive outlook for the medium-term, but to recommend wait for confirmation of a buy signal.
Nearest resistance levels: 1.5960, 1.6000, 1.6200, 1.6300, 1.6400, 1.6450
Nearest support levels: 1.5800, 1.5600, 1.5500
The price of USD/JPY failed to gain a foothold above 115.00 and started to correct downwards. At the moment, the price reached the nearest support level at 114.00. In case of breaking through this mark, the price can reach the next level of support at 113.00. Despite the current correction, medium-term trend remains positive and we recommend holding long positions with a stop below 112.00.
Nearest resistance levels: 115.00, 120.00, 122.00, 125.00
Nearest support levels: 113.00, 112.00, 110.00, 108.50, 107.60, 107.00, 106.00, 105.40
The price of AUD/USD could not overcome the support level at 0.8550 and rebounded upwards. As part of the correction quotations reached the upper limit of the local downward channel and a strong level of about 0.8665. If the price fixates above this mark, quotes, can continue to grow up to 0.8750 and 0.8800. Signal of changing the negative trend to the positive will be fixing the price above 0.8925. We maintain a medium-term negative outlook and recommend holding short positions.
Nearest resistance levels: 0.8800, 0.8900, 0.9000, 0.9100, 0.9130, 0.9200
Nearest support levels: 0.8550, 0.8500, 0.8360
The price of NZD/USD reached the upper limit of the local rising channel and tries to break through it. Fixing the price above the level of the local maximum of about 0.7850 will give a reason to expect continuation of growth of the price to the level of 0.8000. Despite the current growth, the quotes continue to move within the downtrend and we recommend holding short positions with a stop above 0.8000.
Nearest resistance levels: 0.7800, 0.7950, 0.8000, 0.8050, 0.8270, 0.8350
Nearest support levels: 0.7740, 0.7500, 0.7300