12.12.2014 - Technical view

The price of EUR/USD failed to gain a foothold above the upper boundary of the descending channel and corrected to the level of 1.2360, in case of breaking this level, quotes will continue to fall with the objectives of 1.2250, 1.2200 and 1.2000. Growth is limited by the levels of 1.2500 and 1.2550. At the moment, the quotes are moving in the descending channel and according to our forecasts will continue the current trend in the near future. We recommend holding short positions and maintain a medium-term negative outlook.

Nearest resistance levels: 1.2500, 1.2560, 1.2600, 1.2700, 1.2825, 1.2925, 1.3000

Nearest support levels: 1.2360, 1.2200, 1.2000

The price of GBP/USD after a minor correction fixed above the inclined resistance line and now is consolidating below 1.5750. In case of breaking through this level and the price fixing above 1.5750, we recommend to open long positions with the targets at 1,5960-1,6000. Fall is limited by the level of 1.5600. We also recommend to wait for the confirmation of the signal for opening positions.

Nearest resistance levels: 1.5750, 1.5800, 1.5960, 1.6000, 1.6200, 1.6300, 1.6400

Nearest support levels: 1.5600, 1.5500, 1.5300, 1.5000

The price of USD/JPY after the rebound from the strong support at 117.40, has broken through the inclined line of resistance and now is consolidating above 118.00. In case of continued growth, the price will reach 120.00, after fixing above which will head towards the levels of 122.00 and 125.00. We expect further growth of quotations and keep medium-term positive outlook.

Nearest resistance levels: 120.00, 122.00, 125.00

Nearest support levels: 118.00, 117.40, 115.00, 114.00, 113.00, 112.00, 110.00

The price of AUD/USD has failed to reach the upper boundary of the descending channel within the correction and has broken through the local inclined support line. At the moment, the quotes are consolidated above the local minimum near 0.8250. The rise in prices is limited by the level of 0.8400 and the upper boundary of the channel. We recommend holding short positions and maintain a medium-term negative outlook for the Australian dollar.

Nearest resistance levels: 0.8360, 0.8550, 0.8700, 0.8800, 0.8900, 0.9000, 0.9100, 0.9130

Nearest support levels: 0.8250, 0.8200, 0.8000

The price of NZD/USD reached the upper boundary of the local descending channel, but was unable to gain a foothold above it and now is consolidating between the upper boundary of the channel and a strong level of 0.7780. If the price fixates below 0.7780, it will drop to the bottom of the channel and the level of 0.7660. We maintain our medium-term negative outlook and recommend holding short positions with a target 0.7500.

Nearest resistance levels: 0.7825, 0.7900, 0.8000, 0.8050, 0.8270, 0.8350

Nearest support levels: 0.7780, 0.7660, 0.7500, 0.7300

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