13.03.2015 - Technical view
The price of EUR/USD after ascending correction and reaching the top of the channel, resumed its decline and according to our forecasts in the near future will return to the level of 1.0500. In case of overcoming this mark, we expect a further drop in prices up to 1.0400 and 1.0000. In case of breaking the upper boundary of the channel and the level of 1.0700, we expect a price increase to 1.0900. Our medium-term negative outlook remains unchanged.
Nearest resistance levels: 1.0800, 1.0900, 1.1000, 1.1100, 1.1280, 1.1450, 1.1500, 1.1620
Nearest support levels: 1.0500, 1.0400, 1.0100
The price of GBP/USD fixed below the psychologically important level of 1.5000 and continued to fall within the local descending channel. In case of continuation of the current dynamics, we expect reaching the levels of 1.4700 and 1.4500. Signal about the change of the local negative trend will be breaking and fixing the price above the level of 1.5000. We recommend holding short positions in the near future with a stop above 1.5150.
Nearest resistance levels: 1.4900, 1.5000, 1.5150, 1.5200, 1.5300, 1.5350, 1.5500, 1.5550
Nearest support levels: 1.4800, 1.4700, 1.4500
The price of USD/JPY after a minor correction to the level of 121.00, resumed growth and may soon reach the level of 122.00. To continue the upward movement, the price must be fixed above the level of 122.00. Fall is limited by the level of 120.50. We recommend holding long positions with a stop below 119.50 and with the objectives of 124.00 and 125.00. Our medium-term outlook also remains positive.
Nearest resistance levels: 122.00, 125.00
Nearest support levels: 120.50, 119.50, 118.50, 117.40, 116.00, 115.00, 114.00
The price of AUD/USD after reaching the level of 0.7700 stopped the upward movement within the correction and currently continues to decline. According to our estimates, quotations may continue the downward movement with the potential fall to 0.7650 and 0.76000. We maintain our medium-term negative outlook with the potential drop in prices to the level of 0.7500 and recommend holding short positions with a stop above 0.7900.
Nearest resistance levels: 0.7740, 0.7840, 0.8000, 0.8040, 0.8200, 0.8250, 0.8360
Nearest support levels: 0.7650, 0.7600, 0.7500
The price of NZD/USD within the correction has risen to the level of 0.7440, but was not able to continue the upward movement and in the near future will probably compensate a significant part of the increase in prices. We recommend holding short positions with a stop above 0.7600 and potential decline to 0.7200 and 0.7000. To determine the medium-term price direction, we need additional signals.
Nearest resistance levels: 0.7440, 0.7500, 0.7570, 0.7620, 0.7700, 0.7800, 0.7850
Nearest support levels: 0.7340, 0.7200, 0.7000