17.06.2014 - Technical view
The price of EUR/USD rebounded from the support at 1.3530 and broke the upper limit of the descending channel. In the near future, the price will probably continue to move within the corridor 1,3530-1,3590. To determine further movement, the price needs to fix outside this corridor. We maintain a medium-term negative outlook for the euro.
Nearest resistance levels: 1.3590, 1.3600, 1.3660, 1.3700, 1.3730, 1.3790
Nearest support levels: 1.3530, 1.3500
The price of GBP/USD cannot break the level of four-year high of about 1.7000 and continues to consolidate below it. In case of further decline, we recommend to open short positions after the price fixing below 1.6950. In the medium term, the price growth of the British pound is likely to continue.
Nearest resistance levels: 1.7000, 1.7200
Nearest support levels: 1.6900, 1.6840, 1.6770, 1.6700, 1.6600
The price of USD/JPY continues to move within the local downward channel and now has reached the top of the channel. To continue the upward movement, it is needed to overcome the level of 102.00 and consolidate above it. In such case, the quotes of the pair can grow up to 102.70 and 104.00. We expect the price growth in the medium term.
Nearest resistance levels: 102.00, 102.40, 102.70, 103.00, 104.00, 104.70
Nearest support levels: 101.40, 100.90
The price of AUD/USD declined sharply and completed the formation of the figure of a technical analysis "head and shoulders". This signal indicates a trend reversal. We recommend opening short positions with the targets at 0.9340, 0.9300 and 0.9220. Growth is limited by resistance at 0.9380. We predict that the price decline will continue in the medium term.
Nearest resistance levels: 0.9380, 0.9400, 0.9450
Nearest support levels: 0.9340, 0.9300, 0.9220, 0.9200, 0.9130
The price of NZD/USD again failed to overcome the resistance at 0.8690. At the moment the price of a pair corrected downwards and in case of breaking the support level at 0.8650 will be completed the sell signal - "double top". In this case, the price is likely to close the gap and reach the support at 0.8560. We expect a decrease of the New Zealand dollar in the medium term.
Nearest resistance levels: 0.8700, 0.8740
Nearest support levels: 0.8650, 0.8600, 0.8560, 0.8520, 0.8450, 0.8400