11.09.2014 - Technical view

The price of EUR/USD after the price correction to 1.2950 resumed the downward movement and now is consolidating near the level of 1.2900. It is worth noting that the price has broken through the upper limit of the downward channel, and now is trying to gain a foothold above it. Growth is limited by the psychologically important level of 1.3000. We maintain our medium-term negative view on the euro with the closest target of about 1.2800.

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 corrected sharply upwards after reaching 1.6050 and rose to the level of 1.6200. In case of further growth, the price is likely to close the gap and reach the level of 1.6300. Despite the current upward trend, the downward movement is likely to resume and reach the level of a local minimum of about 1.6050. We recommend not to open positions before the end of next week, after which we will review the medium-term outlook.

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

Nearest support levels: 1.6050, 1.6000, 1.5500, 1.5000

The price of USD/JPY after some consolidation above 106.00 fixed over the upper boundary of the rising channel and continued the growth. In the case of correction the price return into the limits of the channel and reach the lower boundary and 105.40 mark. We recommend holding long positions and maintain a positive outlook for the medium-term with the objectives of 107.00, 108.50 and 110.00.

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 has failed to reach the important level of 0.9100 and began to correct upwards. Within the correction the price rose to the level of 0.9220, but could not overcome this level. We are waiting for the resumption of the downward price movement in the near future, and recomend to hold short positions and maintain a medium-term negative outlook.

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 reduced after breaking and fixing prices below the lower limit of the downward channel. At the moment, the price reached the target level of 0.8200, but may continue its upward movement with the targets at 0.8100 and 0.8000. Growth is limited by the boundaries of the descending channel and to change the price trend the price needs to consolidate above 0.8350. We expect a further fall in prices in the coming months, but we expect a slight correction in the near future.

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

The next support levels: 0.8100, 0.8000

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