15.10.2014 - Technical view

The price of EUR/USD continues a gradual decline and approached the level of 1.2600. To continue the downward movement, the price needs to fix below this mark. The target levels with a further fall will be 1,2500 and 1,2200. Despite the current consolidation, falling of prices according to our forecast will continue in the medium term. We recommend holding short positions with a stop above 1.2825.

Nearest resistance levels: 1.2700, 1.2825, 1.3000, 1.3100, 1.3160, 1.3200, 1.3240

Nearest support levels: 1.2600, 1.2500, 1.2450, 1.2200

The price of GBP/USD started to decline sharply and returned to the descending channel. At the moment, prices reached the lower boundary of the channel and are consolidated around the level of 1.5900. We expect the price to rebound from the level of 1.6000 and the upper boundary of the channel, and then decline may continue. In the near future, quotations may fall to 1,5500-1,5600. Despite this our medium-term outlook remains positive.

Nearest resistance levels: 1.6000, 1.6050, 1.6125, 1.6200, 1.6300, 1.6400, 1.6450, 1.6535

Nearest support levels: 1.5900, 1.5800, 1.5600

The price of USD/JPY after some consolidation around the important level of 107.00, has broken through the upper limit of the local downward channel. To continue the downward movement with the objectives of 105.40 and 104.740, the price needs to return to the frames of the descending channel and to fix below 107.00. We expect the resumption of the price growth in the near future with the objectives of 108.50 and 110.00. Our medium-term outlook also remains positive.

Nearest resistance levels: 108.50, 110.00, 111.00, 115.00, 120.00

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

The price of AUD/USD approached to the lower limit of the corridor 0,8660-0,8800. In case of correction, quotations may reach the level of 0.8800. To continue the downward movement the quotations need to fix below the level of 0.8660. We recommend holding short positions with the targets around 0.8500 and 0.8200 and the stop above 0.8925. Our medium-term outlook also remains negative.

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

Nearest support levels: 0.8660, 0.8600, 0.8550, 0.8500

The price of NZD/USD continues to decline after it failed to overcome the resistance level and inclined important level of 0.7900. To continue the downward movement, the price needs to fix below 0.7900. The closest target is the level of local minimum near 0.7740. Change of the trend is possible after fixing the price above the inclined line of resistance and the level of 0.7960. We maintain a medium-term negative outlook and recommend holding short positions.

Nearest resistance levels: 0.7900, 0.8000, 0.8050, 0.8270, 0.8350

Nearest support levels: 0.7800, 0.7740, 0.7700, 0.7500

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