16.10.2014 - Technical view

The price of EUR/USD continued to rise and has broken through the level of a local maximum and now is consolidating around the upper limit of the local rising channel. In addition, the prices reached SMA200 and fixing the price above this level will be a signal of change of the negative trend. In case of further growth, quotes can reach the level of 1.2925 and 1.3000. We recommend holding short positions and expect the beginning of the correction today. Despite the current growth, we maintain a medium-term negative outlook.

Nearest resistance levels: 1.2925, 1.3000, 1.3100, 1.3160, 1.3200, 1.3240

Nearest support levels: 1.2825, 1.2700, 1.2600, 1.2500, 1.2450, 1.2200

The price of GBP/USD showed a strong increase in volatility, and after the confident growth started to correct downwards. Currently, quotes continue to move within the downward channel. Signal of changing the negative trend to positive will be fixing prices above 1.6200. We expect further decline of quotations but expect the resumption of growth in the medium term.

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

Nearest support levels: 1.5880, 1.5800, 1.5600

The price of USD/JPY after a long consolidation around the level of 107.00, reached the upper limit of the descending channel, began to decline sharply and reached its lower limit. It should be noted that the prices reached the target level of 105.40, but failed to gain a foothold below it. Given the strong downward momentum, fall is likely to continue with the objectives of 104.70 and 104.00. We predict the price correction today, expect falling in the coming weeks, but keep medium-term positive outlook.

Nearest resistance levels: 107.00, 108.50, 110.00, 111.00, 115.00, 120.00

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

The price of AUD/USD has broken through the upper limit of the corridor 0,8660-0,8800, but failed to gain a foothold above it and now is corrected downwards. In the case of resumption of growth, quotes can reach the level of 0.8925, a breaking of which will be a signal to close short positions. Decline of quotations soon is expected to the level of 0.8660 and we maintain a medium-term negative outlook with the objectives of 0.8500 and 0.8200.

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 has broken through the strong inclined resistance line and reached the top of the channel and important level of 0.8000. Fixing the price above this mark will be a signal to close long positions. In the near future we expect a decrease in quotations to the lower boundary of the local rising channel and maintain a medium-term negative outlook.

Nearest resistance levels: 0.8000, 0.8050, 0.8270, 0.8350

Nearest support levels: 0.7900, 0.7800, 0.7740, 0.7700, 0.7500

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