16.05.2014 - Technical view

The price of EUR/USD broke through the strong support level at 1.3700 and reached the nearest target at 1.3650, but bounced back and now is consolidating above 1.3700. With continued growth, the price may reach 1.3750. We expect the resumption of the downward movement and maintain the medium-term and long-term negative outlook for the euro.

Nearest resistance levels: 1.3750, 1.3790, 1.3850, 1.3900, 1.3955, 1.4000

Nearest support levels: 1.3700, 1.3650, 1.3520

The price of GBP/USD broke through the strong support level at 1.6770, but failed to gain a foothold above it and corrected upwards within the local descending channel. To continue the upward movement the price needs to break through the upper limit of the channel and to fix above 1.6840. We expect a continuation of a downward price movement within the channel, but keep a long-term positive outlook.

Nearest resistance levels: 1.6840, 1.6900, 1.7000

Nearest support levels: 1.6770, 1.6700, 1.6560

The price of USD/JPY has reached the lower boundary of the triangle at 101.40. A signal to sell will be price fixing below 101.40. We expect the resumption of growth price with closest targets at 102.00 and 102.70. Confirmation of a buy signal will be fixing the quotes above 102.37. We maintain our medium-and long-term positive outlook for the pair.

Nearest resistance levels: 102.00, 102.70, 103.00, 104.00, 104.70

Nearest support levels: 101.40, 100.90

The price of AUD/USD continues to consolidate within the corridor 0,9320-0,9400. In case of growth, a signal to buy will be price fixing above 0.9400. A signal to sell will be fixing the price below the nearest local minimum at 0.9320. We maintain a medium-term negative outlook for the Australian dollar.

Nearest resistance levels: 0.9340, 0.9460

Nearest support levels: 0.9320, 0.9300, 0.9220, 0.9200

The price of NZD/USD has reached the resistance at 0.8690, but could not overcome it and corrected downwards within the corridor 0,8600-0,8690. Growth is limited by a strong level of 0.8690. We are waiting for new signals to determine future price movement and expect continued movement within the corridor.

Nearest resistance levels: 0.8690, 0.8700, 0.8740, 0.8780

Nearest support levels: 0.8600, 0.8550, 0.8520

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