13.11.2014 - ​Technical view

The price of EUR/USD has broken through the upper boundary of the descending channel, but failed to gain a foothold above the local maximum near 1.2500 and now decreases along the top of the channel. To resume the price growth with the objectives near 1.2600 and 1.2750, the price needs to gain a foothold above 1.2500. At the moment, we see no reason to change the negative trend and recommend holding short positions with a stop above 1.2750. Our medium-term outlook remains negative.

Nearest resistance levels: 1.2500, 1.2600, 1.2700, 1.2825, 1.2925, 1.3000, 1.3160

Nearest support levels: 1.2200, 1.2000

The price of GBP/USD has failed to reach the strong resistance level at 1.5960 and started to decline sharply. As a result, we saw the price drop to the lower limit of the downward channel. After consolidation near current levels, there is a high probability of the price rebound upwards to the level of 1.5900. According to our estimates, the price decline will continue in the near future, with the potential of reduction to 1.5500.

Nearest resistance levels: 1.5960, 1.6000, 1.6200, 1.6300, 1.6400, 1.6450

Nearest support levels: 1.5600, 1.5500

The price of USD/JPY after a minor correction down to 115.00, fixed above this mark. Currently quotations are consolidated below 116.00 and we forecast that in the near future will try to overcome this mark. We predict that in the medium term price will reach 120.00, after which we will revise our medium-term forecast.

Nearest resistance levels: 120.00, 122.00, 125.00

Nearest support levels: 115.00, 114.00, 113.00, 112.00, 110.00, 108.50, 107.60, 107.00

The price of AUD/USD after breaking through the important level of 0.8680 continued the growth and now is trying to gain a foothold above this mark. In the near future, quotations will likely continue the upward movement within the local rising channel with the closest target near 0.8800. At the moment, there is a possibility of opening short-term long positions, but the medium-term outlook remains negative.

Nearest resistance levels: 0.8800, 0.8900, 0.9000, 0.9100, 0.9130, 0.9200

Nearest support levels: 0.8680, 0.8550, 0.8500, 0.8360

The price of NZD/USD continued to rise and reached an important level of 0.7900 below which is currently consolidated. In case of breaking of this level quotations probably will reach a mark of 0.8000 above which is set the stop. Fixing the price above that mark will be a signal indicating the change of the negative trend. Despite the current growth we maintain a medium-term negative outlook.

Nearest resistance levels: 0.7950, 0.8000, 0.8050, 0.8270, 0.8350

Nearest support levels: 0.7800, 0.7740, 0.7660, 0.7500, 0.7300

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