12.01.2015 - ​Technical view

The price of EUR/USD after some consolidation around the level of 1.1800, started to correct upwards and broke through the upper limit of the downward channel. In case of further correction, quotations may reach the level of 1.2000. For the continuation of reduction with the targets at 1.1700 and 1.1620, the price needs to fix below 1.1800. Our medium-term negative outlook remains unchanged, and despite the likely increase in prices in the near future, we recommend holding short positions with a stop above 1.2250.

Nearest resistance levels: 1.2000, 1.2165, 1.2250, 1.2360, 1.2500, 1.2560, 1.2600, 1.2700

Nearest support levels: 1.1800, 1.1500

The price of GBP/USD started to correct up after failed to reach psychologically important level of 1.5000. Currently the price is adjusted upwards and returned to the descending channel. In case of further growth within the channel, the price can reach the levels 1.5200, 1.5360 and 1.5500. Our medium-term view remains negative, but we assume the possibility of the price growth in the short term in the case of fixing of quotations above 1.5200.

Nearest resistance levels: 1.5200, 1.5300, 1.5500, 1.5750, 1.5800, 1.5960, 1.6000, 1.6200

Nearest support levels: 1.5000

The price of USD/JPY continued its decline in the descending channel after some time moved along its upper border. At the moment, the quotes approached the level of 118.00, in case of overcoming of which will continue to fall with the objectives at 117.40 and 116.00. Growth is limited by the upper boundary of the channel. For the resumption of the upward movement with the objectives of 120.00, 120.85 and 122.00, the price needs to break through and gain a foothold above the upper boundary of the channel.

Nearest resistance levels: 120.00, 120.75, 122.00, 125.00

Nearest support levels: 117.40, 115.00, 114.00, 113.00, 112.00, 110.00

The price of AUD/USD after going beyond the level of the triangle and overcoming the local maximum at 0.8160, continued to grow and has overcome the resistance at 0.8200. According to our forecasts the price in the near future will reach the level of 0.8360. Despite the forecast of short-term growth of the price, we maintain a medium-term negative view on the Australian dollar.

Nearest resistance levels: 0.8360, 0.8550, 0.8700, 0.8800, 0.8900, 0.9000

Nearest support levels: 0.8200, 0.8160, 0.8040, 0.8000, 0.7600, 0.7500

The price of NZD/USD reached an important resistance level at 0.7850, but could not overcome it. On the chart near the level of 0.7850 were formed candles with long shadows, indicating a high probability of a change of the price dynamics. At the moment there is a good opportunity for opening short position with a stop above 0.7910 and objectives at 0.7660 and 0.7620. Our medium-term outlook also remains negative.

Nearest resistance levels: 0.7850, 0.7900, 0.8000, 0.8050, 0.8270

Nearest support levels: 0.7800, 0.7660, 07620, 0.7500, 0.7300

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