15.07.2014 - Technical view

The price of EUR/USD yesterday failed to break through the upper boundary of the triangle and began to decrease gradually along it. We expect strong price movement and recommend opening positions after fixing the price above 1.3640 with a target at 1.3700 or below 1.3590 with targets at 1.3530 and 1.3400. Medium-term outlook on the euro remains negative.

Nearest resistance levels: 1.3665, 1.3700, 1.3750, 1.3790

Nearest support levels: 1.3590, 1.3530, 1.3500, 1.3400

The price of GBP/USD after breaking through the inclined line of support and some consolidation has started to decline to the nearest support level at 1.7060 after overcoming of which the price will probably decline to 1.6950. Growth is limited by the resistance at 1.7180. We maintain our positive outlook for the medium-term, but in the near future the price may continue to fall.

Nearest resistance levels: 1.7100, 1.7180, 1.7200, 1.7300

Nearest support levels: 1.7060, 1.7000, 1.6950, 1.6900, 1.6810, 1.6770

The price of USD/JPY within growth has overcome the resistance at 101.40 and has reached the next level of 101.60. With further growth, the nearest target levels will be 101.80 and 102.20. Fall is limited by the support at 101.20. We maintain our positive outlook with the medium-term objectives at 102.70 and 104.00.

Nearest resistance levels: 102.20, 102.70, 103.00, 104.00, 104.70

Nearest support levels: 101.20, 100.90, 100.00

USD and JPY Forecast

The price of AUD/USD stabilized around the level of 0.9400 and continues to consolidate below this mark. Further growth is limited by resistance at 0.9440, and the fall by the level of support at 0.9330. Signal to open positions will be the price leaving the corridor 0,9330-0,9440. We maintain a medium-term negative outlook and expect the signal to open positions.

Nearest resistance levels: 0.9440, 0.9500, 0.9600.

Nearest support levels: 0.9360, 0.9330, 0.9300, 0.9220, 0.9200

The price of NZD/USD continues to move along the psychologically important level of 0.8800. Price volatility is extremely low, and the price movement in the near future is limited by the boundaries of the rising channel. Tonight we expect growth of volatility. Signal to open positions will be price fixing outside the rising channel.

Nearest resistance levels: 0.8850

Nearest support levels: 0.8800, 0.8780, 0.8660, 0.8600, 0.8560, 0.8480

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