11.11.2014 - Technical view
The price of EUR/USD started to correct after it was not able to overcome the upper limit of the local downward channel and a strong level of 1.2500. According to our estimates, the current downward movement within the channel will continue in the near future to the level of 1.2200, after which the decline may continue until 1.2000. Growth is limited by the levels 1.2500 and 1.2600. We keep a medium-term negative outlook and recommend holding short positions.
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 ascending correction to the inclined resistance line started to correct downwards. We expect that in the near future quotes will reach the level of 1.5800, in the case of overcoming of which, the target level will be 1.5500. Changing negative trend is possible after overcoming the level of 1.6000 and fixing the price above 1,6200. We expect renewed growth of rates in the medium term, but forecast the decline in the near future.
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 has started growing again after the price reduction to the level of 114.00. Currently quotations have overcome the level of 115,00 and try to continue the upward movement. In case of resumption of descending movement and breaking through the level of 114.00, on the price chart will be completed pattern formation "double top", which indicates a trend reversal, but this scenario is unlikely. We keep a medium-term positive outlook and recommend holding long positions.
Nearest resistance levels: 120.00, 122.00, 125.00
Nearest support levels: 114.00, 113.00, 112.00, 110.00, 108.50, 107.60, 107.00
The price of AUD/USD has broken through the upper limit of the local descending channel, but could not overcome the resistance at 0.8665 and started to correct. At the moment the price is consolidating near the upper boundary of the channel and above $ 0.8600. For the resumption of growth the price needs to overcome the level of the nearest local maximum of about 0.8665. We expect a further fall of rates in the medium term and recommend holding short positions.
Nearest resistance levels: 0.8665, 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 has failed to gain a foothold above the level of 0.7800 and returned to the strong support level 0.7740. Further reduction is limited by the support at 0.7660. The price growth is limited by the psychologically important level of 0.8000, breaking of which will be a signal of change of the negative trend. We recommend holding short positions with the targets near 0.7500 and 0.7300 and maintain a medium-term negative outlook.
Nearest resistance levels: 0.7800, 0.7950, 0.8000, 0.8050, 0.8270, 0.8350
Nearest support levels: 0.7740, 0.7660, 0.7500, 0.7300