10.04.2014 - Technical view
Futures on the broad U.S. stock index S&P 500 continued its ascending movement and has overcome the resistance level at 1858. With further growth, the closest target is the level 1880, after fixing above which the price may reach historic highs at around 1900. We expect continued growth, but keep a long-term negative outlook for the U.S. market.
Nearest support levels: 1858, 1840, 1830, 1820
Nearest resistance levels: 1880, 1900, 1950, 2000
The price of euro has broken through the upper limit of the downward channel and reached the inclined resistance level. Now the price is trying to gain a foothold above 1.3850. With further growth, the closest target will be at 1.3900. Within the correction, the price may drop to 1.3810. We maintain a long-term negative outlook.
Nearest support levels: 1.3850, 1.3750, 1.3700, 1.3640, 1.3560
Nearest resistance levels: 1.3900, 1.3960
The price of GBP/USD has broken through the strong resistance level at 1.6750, the upper limit of the local rising channel and reached the target level at 1.6820. For continued growth, the price should be fixed above this mark. We expect the price correction in the near future, but keep a long-term and medium-term positive outlook with targets at 1.6770 and 1.6820.
Nearest support levels: 1.6750, 1.6650, 1.6600, 1.6500, 1.6400, 1.6300
Nearest resistance levels: 1.6820
The price of USD/JPY after a sharp decline in the previous days stopped falling in the area of the lower limit of the upward channel and is consolidating around 102.00. At the moment there is a high probability of the rebound of price upwards with the closest target at 102.70. In case of further decrease the price may drop to 101.25. We keep the medium and long term positive outlook for the USD/JPY.
Nearest support levels: 101.25, 100.90, 100.40
Nearest resistance levels: 102.70, 104.00, 104.70, 105.40
The price of AUD/USD continued to rise and reached the upper limit of the upward channel, and resistance at 0.9400. For continued growth the price needs to fix above this level. We expect price correction within channel to 0.9300, but keep medium-term positive outlook for the Australian dollar.
Nearest support levels: 0.9300, 0.9215, 0.9130, 0.9100, 0.9000, 0.8925
Nearest resistance levels: 0.9500
The price of the New Zealand dollar continued to rise, has overcome the strong resistance level at 0.8700 and tries to gain a foothold above this mark. For continued growth the price needs to fix above this mark. In case of price correction it may drop to 0.8650. We maintain a positive medium-term outlook for the New Zealand dollar.
Nearest support levels: 0.8700, 0.8650, 0.8520, 0.8450, 0.8390, 0.8250
Nearest resistance levels: 0.8800
The price of gold fixed above the level of $ 1,300 per troy ounce and continues to move inside the rising channel. The price reached the first target level around 1315-1320. We expect that the price will continue to move within the channel. Correction is possible to the level of 1300. We maintain a long-term positive outlook for gold.
Nearest support levels: 1300, 1280, 1275, 1265
Nearest resistance levels: 1320, 1330, 1344, 1352