18.12.2014 - Technical view

The price of EUR/USD has broken the lower boundary of the rising channel, and has reached the level 1.2360 and continued to decline. In case of further fall, quotes will drop to 1,2200-1,2250. In case of resumption of growth, quotes can return to 1.2500, but this situation in the near future is unlikely. We recommend holding short positions with a stop above 1.2600 and maintain a medium-term negative outlook for the euro.

Nearest resistance levels: 1.2360, 1.2500, 1.2560, 1.2600, 1.2700, 1.2825, 1.2925, 1.3000

Nearest support levels: 1.2200, 1.2000

The price of GBP/USD after a failed attempt to gain a foothold above the level of 1.5750 and some consolidation below this mark started to decline sharply and has broken through the strong level of 1.5600. Fixing of prices below this level will be a signal to sell. In the near future quotations may continue to decline to 1.5500. At the moment, the trend remains negative and the signal of its change will be price fixing above the level of 1.5800. We recommend to wait for a confirmation of the signal for opening positions.

Nearest resistance levels: 1.5600, 1.5750, 1.5800, 1.5960, 1.6000, 1.6200, 1.6300, 1.6400

Nearest support levels: 1.5500, 1.5300, 1.5000

The price of USD/JPY could not fix below 117.40 and has broken through the upper limit of the local descending channel and has reached the level 119.00. In case of fixing the price above this mark, we recommend to open long positions with a stop below 116.00. We recommend to wait for a confirmation of the signal for opening positions and forecast growth in the medium term.

Nearest resistance levels: 119.00, 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 showed increased volatility yesterday, but continued to decline and now is moving along the bottom of the channel. In case of upward correction, quotations may grow up to 0.8360 and the upper boundary of the channel. We expect continued price decline of the Australian dollar to the psychologically important level of 0.8000, then we can see a correction. Our medium-term negative outlook and recommendation to hold short positions remain unchanged.

Nearest resistance levels: 0.8200, 0.8360, 0.8550, 0.8700, 0.8800, 0.8900, 0.9000

Nearest support levels: 0.8000, 0.7600, 0.7500

The price of NZD/USD after a sharp decline has broken through the level of 0.7700, but then started to correct upwards and now may reach the upper limit of the downward channel. Despite the current upward momentum and reducing the potential price decline of the New Zealand dollar, is continuing the negative medium-term trend. We recommend holding short positions with a stop above 0.7910 and maintain a medium-term negative view.

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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