17.10.2014 - Technical view

The price of EUR/USD failed to gain a foothold above the resistance level of 1.2825 and started to adjust downwards. In case of further decline, quotations may fall to the level of 1.2700. Despite the current short-term uptrend, we recommend holding short positions with a stop above 1.2925. Our medium-term outlook remains negative and with the objectives of about 1.2500 and 1.2200.

Nearest resistance levels: 1.2825, 1.2925, 1.3000, 1.3100, 1.3160, 1.3200, 1.3240

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

Forecast for September 2014

The price of GBP/USD fixed above the level of 1.6000 and continued an upward movement. Currently quotes are consolidating below 1.6125. In case of further growth, the signal of changing the negative trend to positive will be fixing prices above 1.6200. In such case we recommend to open long positions with the targets around 1.6450, 1.6670 and 1.6900. Our medium-term outlook also remains positive.

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

Nearest support levels: 1.6050, 1.6000, 1.5880, 1.5800, 1.5600

The price of USD/JPY continues to consolidate near the level of 106.00, and reached the upper limit of the local downward channel. It is worth noting the intersection of SMA50 and SMA200, which indicates a change of positive trend to negative. In case of breaking through the level 105.40, we will see a reduction in price to 104.70 and 104.00. Growth is limited by the level of 110.00. A buy signal will be fixing the price above 107.00. Despite the current decline, we keep medium-term negative 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 continues to consolidate within the corridor 0,8660-0,8800. To continue the downward movement the price needs to fix below 0.8660. In case of growth, the signal to close short positions and opening long ones will be fixing the price above 0.8900. Taking into account the long-term consolidation, we can see a strong price movement in the near future. Our medium-term outlook remains negative.

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 corrected downwards within the local rising channel and reached the level of 0.7900. Further growth is limited by the psychologically important mark of 0.8000. At the moment, we see the weakening of the bears, but despite this, the fall may resume soon. If the price will fix above 0.8085, we recommend closing short positions. We maintain a medium-term negative outlook with a target near 0.8500.

Nearest resistance levels: 0.8000, 0.8050, 0.8270, 0.8350

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

NZD and USD Technical Analysis

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