12.08.2014 - Technical view

The price of EUR/USD falls after it almost reached the level of resistance at 1.3440. Further reduction is limited by the support level at 1.3350. To continue the current downward trend, quotes should be fixed below the level of 1.3350. Long positions should be opened only after the price fixation above 1.3440. We maintain a medium-term negative outlook, but do not exclude an upward correction in the near future.

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 after the rebound from the strong level of 1.6770 again reached this mark and will probably try to break through and fix below it. In case of continued downward movement within the descending channel, the price can reach the next support level at 1.6700. The signals to buy in case of a change of trend will be breaking through the upper boundary of the descending channel and fixing above 1.6810. We assume the possibility of continuing the downward movement in the near future, but keep medium-term positive outlook for the pound.

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 has broken through the upper limit of the downward channel and local the level of 102.20. In case of fixing above this mark, we will probably see continued upward movement with the closest targets at 102.70 and 103.00 and then quotations may continue to rise to 104.00 and 104.70. Strong support is at 101.70. We maintain our positive outlook for the medium-term.

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 fixed below the level of 0.9280 and continued the downward movement within the trend. The next upside target level is 0.9220, and then the price may fall to 0.9100. Growth is limited by sloped line of resistance. Tomorrow is expected the increase of volatility. We maintain a medium-term negative outlook for the Australian dollar with objectives of 0.9100 and 0.8900.

Nearest resistance levels: 0.9280, 0.9330, 0.9440, 0.9500, 0.9600

Nearest support levels: 0.9220, 0.9200, 0.9100

The price of NZD/USD has returned to the descending channel after it was unable to fix outside. In the near future, the price is likely to reach the strong support at 0.8400. Change of trend is possible after fixing the prices above 0.8500. In the near future, the price is likely to continue to move below this level and continue the downward movement. For the medium-term forecast, we need additional signals.

Nearest resistance levels: 0.8500, 0.8530, 0.8560, 0.8600, 0.8660, 0.8720, 0.8780

Nearest support levels: 0.8400, 0.8300

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