11.08.2014 - Technical view
The price of EUR/USD was unable to fix below the level of 1.3350 and corrected upwards. In case of further correction, growth is limited by a strong resistance level at 1.3440. To change the negative trend, the price needs to consolidate above 1.3440. We maintain a medium-term negative outlook with the objectives of 1.3200 and 1.2800 and recommend holding short positions with the stop above 1.3450.
Nearest resistance levels: 1.3440, 1.3500, 1.3530, 1.3590, 1.3665, 1.3700
Nearest support levels: 1.3350, 1.3300, 1.3200, 1.3160, 1.3000, 1.2800
The price of GBP/USD decreased to a strong support level at 1.6770 and is consolidating above it. To continue the downward movement, the price needs to fix below this mark. In this case, the new target level will become 1.6700. To change the trend, the price needs to break the upper limit of the channel and to gain a foothold above 1.6890. We look forward to the beginning of the upward correction in the near future and maintain a medium-term positive outlook.
Nearest resistance levels: 1.6810, 1.6890, 1.7000, 1.7050, 1.7100, 1.7180, 1.7200
Nearest support levels: 1.6770, 1.6700
The price of USD/JPY rebounded from the bottom of the local descending channel and reached its upper limit, and now is consolidating near the strong level of 102.20. To continue to grow, the price should gain a foothold above this mark. Fall is limited by the level of 101.70 and the lower boundary of the channel. We expect growth of quotations in the medium term with the objectives of 102.70, 104.00 and 104.70.
Nearest resistance levels: 102.20, 102.70, 103.00, 104.00, 104.70
Nearest support levels: 101.70, 101.15, 100.90, 100.00
The price of AUD/USD has not reached the target level of 0.9220 and started to correct upwards after reaching the inclined support line. At the moment the price is consolidating near the important level of 0.9280. Further upward movement is limited by the resistance at 0.9330. We maintain a medium-term negative outlook and recommend holding short positions on the Australian dollar.
Nearest resistance levels: 0.9330, 0.9440, 0.9500, 0.9600
Nearest support levels: 0.9220, 0.9200, 0.9100
The price of NZD/USD stopped to decline and now is consolidating near the level of 0.8670 and the upper limit of the downward channel. To change the negative trend, the price needs to gain a foothold outside of the channel and to overcome the level of the nearest local maximum near 0.8530. Probability of ascending correction has increased significantly and the potential of further reduction has fallen.
Nearest resistance levels: 0.8530, 0.8560, 0.8600, 0.8660, 0.8720, 0.8780, 0.8800
Nearest support levels: 0.8400, 0.8300