17.04.2014 - Technical view

Futures on the broad U.S. stock index S&P 500 has overcome the resistance level at 1858, but failed to gain a foothold above it. To continue the growth, the price needs to consolidate above this level. In such case, the quotes can reach 1880. Currently there is a high probability of decrease in prices to the level of 1840. We maintain a long-term negative outlook on the U.S. market.

Nearest support levels: 1840, 1813, 1800, 1780

Nearest resistance levels: 1858, 1880, 1900, 1950

The price of euro has failed to overcome the level of 1.3850 and again consolidates above the level of 1.3810. In case of reduction, a signal to sell will be price fixing below 1.3800. The objectives will be the support levels at 1.3750 and 1.3700. Growth is limited by a strong resistance level at 1.3900. We maintain a long-term negative outlook.

Nearest support levels: 1.3810, 1.3750, 1.3700, 1.3640, 1.3560

Nearest resistance levels: 1.3900, 1.3960

The price of GBP/USD has broken through the resistance level at 1.6770 and 1.6820 and tries to gain a foothold above this mark. Moreover, the pair is trading near the upper limit of the upward channel. For the continued growth it is necessary to gain a foothold above 1.3820. At the moment there is a high probability of slight price correction with the aim of near 1.6770. We maintain a long-term positive outlook, but expect further correction.

Nearest support levels: 1.6820, 1.6770, 1.6700, 1.6650, 1.6600

Nearest resistance levels: 1.6900, 1.7000

The price of USD/JPY did not reach the mark of 102.50 and corrected to the level of 102.00, and at the moment is trying to gain a foothold above it. We expect the growth of price and recommend holding long positions with the stop below 101.25 and the objectives at 102.70 and 104.00. We keep medium and long term positive outlook for the USD/JPY.

Nearest support levels: 101.25, 100.90, 100.40

Nearest resistance levels: 102.70, 104.00, 104.70, 105.40

The price of AUD/USD has corrected upwards, but did not reach the upper limit of the local downward channel and resumed decline. We anticipate low volatility over the next trading sessions. Growth is limited by the resistance level at 0.9400. We expect further correction of price inside the rising channel in the medium term, with the closest target price near 0.9300.

Nearest support levels: 0.9300, 0.9250, 0.9215, 0.9130, 0.9100, 0.9000, 0.8925

Nearest resistance levels: 0.9400, 0.9460, 0.9500

The price of the New Zealand dollar broke the lower limit of the corridor 0,8630-0,8700, reached the lower limit of the local downstream channel and now trying to consolidate below 0.8630. Further growth is limited by the upper boundary of the channel, and resistance at 0.8650. We look forward to continuing the downward movement with the target at 0.8520, after reaching which the growth of price can resume.

Nearest support levels: 0.8520, 0.8450, 0.8390, 0.8250

Nearest resistance levels: 0.8650, 0.8700, 0.8800

The price of gold has broken through the lower boundary of the local rising channel and reached 1290 dollars per troy ounce. Now quotes of the pair continue to consolidate around 1300. Reduction is limited by the levels of support 1290 and 1280. We anticipate renewed growth in the price of gold and keep medium and long term positive outlook for gold.

Nearest support levels: 1300, 1280, 1275, 1265

Nearest resistance levels: 1315, 1330, 1344, 1352

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