16.12.2014 - Technical view

The price of EUR/USD continues to move near the level of 1.2450. At the moment, quotes are moving along the inclined support line. In case of overcoming the level of 1.2500, the price will continue to rise to 1.2600. Despite the current upward movement, we expect a drop in prices in the near future. We recommend holding short positions with a stop above 1.2600 and objectives of 1.2360, 1.2200 and 1.2000 and maintain a medium-term negative outlook.

Nearest resistance levels: 1.2500, 1.2560, 1.2600, 1.2700, 1.2825, 1.2925, 1.3000

Nearest support levels: 1.2360, 1.2200, 1.2000

The price of GBP/USD has broken through the support at local level of 1.5700 and reached a sloping support line and the mark of 1.5600, but could not overcome these levels. In the near future we may see an upward movement within the corridor 1,5600-1,5750. Signal to open positions will be the price fixing beyond this corridor. We recommend to wait for a confirmation of the signal for opening positions and predict growth of quotations today.

Nearest resistance levels: 1.5750, 1.5800, 1.5960, 1.6000, 1.6200, 1.6300, 1.6400

Nearest support levels: 1.5600, 1.5500, 1.5300, 1.5000

The price of USD/JPY after some consolidation below 119.00, started to correct downwards. At the moment, the quotes have reached the strong level of 107.40, fixing below which will be a signal to open short positions with the targets 115.00 and 114.00. It is worth noting that there is a possibility of rebound the price upwards to 119.00. Long position should be opened after fixing the quotations above 119.00. We maintain our positive outlook for the medium-term, but we recommend to wait for the confirmation of the signal for opening positions.

Nearest resistance levels: 120.00, 122.00, 125.00

Nearest support levels: 117.40, 115.00, 114.00, 113.00, 112.00, 110.00

The price of AUD/USD continues gradual decline within the descending channel. At the moment, the quotes are consolidated above 0.8200. According to our estimates the price decline will continue in the near future with a target near 0.8000. The growth is limited by the upper boundary of the channel and resistance at 0.8360. We recommend holding short positions and maintain a medium-term negative outlook.

Nearest resistance levels: 0.8360, 0.8550, 0.8700, 0.8800, 0.8900, 0.9000, 0.9100, 0.9130

Nearest support levels: 0.8200, 0.8000

The price of NZD/USD continues to fall within the descending channel after has broken through the level of 0.7780. The next target level is 0.7660. We forecast a drop in prices to the bottom of the channel and recommend holding short positions with a stop above 0.7910. Our medium-term outlook remains negative.

Nearest resistance levels: 0.7780, 0.7825, 0.7900, 0.8000, 0.8050, 0.8270, 0.8350

Nearest support levels: 0.7660, 0.7500, 0.7300

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