16.09.2014 - Technical view

The price of EUR/USD after yesterday's correction continues a gradual increase in prices. In case of further rise, quotations may reach the level of 1.3000. Overcoming this level is unlikely. We predict that in the near future the price will break through the inclined support level and will reach the target level of 1.2800. Our medium-term outlook remains negative.

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 decreased slightly along the bottom of the channel, but continues to consolidate within a narrow range 1,6200-1,6270. The price volatility in the near future may grow strongly, but we do not recommend to open positions till Thursday. Growth is limited by the levels of 1.6300 and 1.6450. In case of decrease the price may fall to 1.6050. We will revise our forecast at the end of this week.

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

August 1 of USD-GBP Performance

The price of USD/JPY slightly decreased and approached the level of support 107.00 and the upper boundary of the channel. In case of return of the price within the boundaries of the channel is expected the decline to its lower boundary and the level of 106.00. The positive dynamics of prices is maintained. We recommend holding long positions and forecast growth with the closest targets at 108.50 and 110.00.

Nearest resistance levels: 108.50, 110.00

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

August 1 of USD Performance

The price of AUD/USD rebounded from the important level of 0.9000 and closed yesterday's gap. At the moment the price is consolidating around the level of 0.9050 and in case of continuing upward correction can reach 0.9100. Despite this, we recommend keeping short positions and maintain a negative outlook on the price of the Australian dollar, which according to our forecasts after breaking through the level of 0.9000, will continue to decline with the closest target near 0.8900.

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 has broken through the upper limit of the local downward channel and reached the lower limit of a strong descending channel. In case if the price will return to its boundaries, we expect upward correction to the level of 0.8270. Despite the current upward impulse, the growth potential is limited and the long-term trend remains negative. In case of rise above 0.8200, we recommend to close long positions and wait for a new entry point.

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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