12.05.2014 - Technical view

The price of EUR/USD continued its sharp decline and has broken through the strong levels of support at 1.3840 and 1.3790. Now the quotes are consolidating near 1.3760. In case of upward correction, the price can reach the level of 1.3790. We expect continued descending movement with the closest target at 1.3700 and keep medium and long term negative outlook for the euro.

Nearest resistance levels: 1.3790, 1.3850, 1.3900, 1.3955, 1.4000

Nearest support levels: 1.3700, 1.3650, 1.3520

The price of GBP/USD has broken through the level 1.6900 and reached the strong support at 1.6840. In case of further decrease the price can reach the lower limit of the upward channel and the level of 1.6800. We expect the price rebound from 1.6840 with the target at 1.6900 and keep medium and long term positive outlook.

Nearest resistance levels: 1.6900, 1.7000

Nearest support levels: 1.6840, 1.6770, 1.6560

The price of USD/JPY has broken through the upper boundary of the local descending channel and approached the strong level of 102.00. We expect continued growth with the closest targets at 102.00 and 102.70 and keep medium and long-term positive outlook for the pair.

Nearest resistance levels: 102.00, 102.70, 103.00, 104.00, 104.70

Nearest support levels: 101.40

The price of AUD/USD continues to consolidate near the previous local maximum at 0.9350. In case of continued growth, a signal to buy will be price fixing above 0.9390. The target price in this case will be the level 0.9460. A signal to sell will be price fixing below the nearest local minimum at 0.9320. We maintain a medium-term negative outlook for the Australian dollar.

Nearest resistance levels: 0.9390, 0.9460

Nearest support levels: 0.9330, 0.9300, 0.9220, 0.9200

The price of NZD/USD continued its decline and almost reached the level of 0.8600. Now the price is trying to fix below the strong level of0.8630. In such case the fall may continue to the level of 0.8520. A signal to sell will be price fixing below 0.8600. Soon we expect an upward price correction. We are reviewing midterm positive outlook and are waiting for new signals to determine future price movements.

Nearest resistance levels: 0.8630, 0.8700, 0.8740, 0.8780

Nearest support levels: 0.8600, 0.8550, 0.8520

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