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15.09.2014 - Technical view

The price of EUR/USD gradually corrected along the sloping support line after it has broken through sloping resistance line. Further growth is limited by the psychological level of 1.3000. At the moment, we do not expect a trend change and expect the resumption of the downward price movement in the near future with a target level of 1.2800. Medium-term outlook also remains negative with reference points around 1.2500.

Nearest resistance levels: 1.3000, 1.3100, 1.3160, 1.3200, 1.3240, 1.3300, 1.3350

Nearest support levels: 1.2860, 1.2800

The price of GBP/USD is consolidated within a narrow corridor 1,6200-1,6300. To continue the upward movement with the closest target of about 1.6450, the price needs to gain a foothold above 1.6300. Increase in volatility is expected in the second half of the week. We expect price cut in the next couple of days. Medium-term outlook will be revised after Thursday.

Nearest resistance levels: 1.6300, 1.6400, 1.6450, 1.6535, 1.6600, 1.6670

Nearest support levels: 1.6200, 1.6050, 1.6000, 1.5500, 1.5000

The price of USD/JPY stopped the growth after overcoming the level of 107.00. In case of correction, the price may fall to the upper boundary of the rising channel or level of 106.50. In case of continued upward trend, the following targets will be at 108.50 and 110.00. Despite the decline in the growth potential and the need for correction, we expect continued growth in prices in the medium term.

Nearest resistance levels: 108.50, 110.00

Nearest support levels: 107.00, 106.00, 105.40, 104.70, 104.00, 103.70, 103.00

The price of AUD/USD hit its target level of 0.9000. Considering strong downward momentum, the decline may continue until the next target level of 0.8900 at a faster rate than we had expected earlier. At the same time, we do not exclude the price rebound upwards and the beginning of correction to 0.9100, but this option is unlikely. Our medium-term view remains negative.

Nearest resistance levels: 0.9100, 0.9130, 0.9200, 0.9240, 0.9330, 0.9400, 0.9440

Nearest support levels: 0.9000, 0.8900

The price of NZD/USD continued downward movement within the local falling channel. No correction for a long time indicates the possibility of soon upward correction. Despite this, at the moment there is no reason to speak about a trend change and we recommend holding short positions open. According to our forecasts, the decline will continue to the level of 0.8000.

Nearest resistance levels: 0.8270, 0.8350, 0.8400, 0.8425, 0.8470, 0.8530, 0.8560, 0.8600

Nearest support levels: 0.8100, 0.8000

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