14.11.2014 - Technical view

The price of EUR/USD resumed its decline after another attempt to overcome the important level of 1.2500. It is worth noting that the price oscillation amplitude is reduced and we can see that price is clamped within the local triangle. In this regard, we expect strong growth of volatility in the near future. Fixing the price above 1.2500 will signal the future growth with the objectives of 1.2600 and 1.2750, and fixing of the price below 1.2400 will lead to an acceleration of the fall. We expect a further decline of euro with objectives of 1.2200 and 1.2000 and maintain a medium-term negative outlook.

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 after overcoming the local minimum near 1.5800, has broken through the lower boundary of the local downward channel and continued to decline. Given the strong decline of the price and the completion of the trading week, we can see the corrective growth on the background of fixation positions. Growth is limited by the levels 1.5800 and 1.5960. We expect a further price reduction with the targets near 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 several attempts, was able to overcome the level of 116.00 and continues to rise. In case of correction, quotations may fall to the nearest support level at 115.00. Stop should be set below 114.00. Given the steady growth of quotations and the lack of preconditions for changing the current upward trend, we expect continued growth in prices and maintain a positive medium-term outlook with the target near 120.00.

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 reaching 0.8750 and the upper limit of the local rising channel, started to fall and reached the bottom of the channel. Currently quotations are consolidated near the support level 0.8660 and in case of fixing the price below this mark, will continue to decline with the objectives near 0.8600 and 0.8550. We forecast a drop in prices in the near future and maintain a medium-term negative outlook.

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 has failed to gain a foothold above the level of 0.7900. Currently quotations reduced and soon may reach 0.7800 and 0.7750. In case of continued growth, the price may rise to the psychologically important mark of 0.8000, consolidation above which will be a signal to close the short position and to open long. Our medium-term outlook for the New Zealand dollar remains negative.

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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