19.01.2015 - ​Technical view

The price of EUR/USD reached the psychologically important level of 1.1500 and the lower limit of the downward channel, but rebounded upwards and now is consolidating below 1.1600. In case of a further correction, the price can rise to the top of the channel and the level of 1.1700. Changing the downtrend is possible only in case of breaking the top of the channel and the resistance level at 1.1860. We expect further price decline in the medium term with targets at 1.1200 and 1.1000 and recommend holding short positions.

Nearest resistance levels: 1.1620, 1.1750, 1.1800, 1.1860, 1.2000, 1.2165, 1.2250, 1.2360

Nearest support levels: 1.1500, 1.1200, 1.1000

The price of GBP/USD has broken the lower boundary of the local descending channel and currently is consolidating above 1.5100. Further fall is limited by the lower boundary of the channel and the psychologically important level of support at 1.5000. In case of renewed growth the targets will be at 1.5300 and 1.5500. Our medium-term view of the pound remains negative and we expect a decline in the near future.

Nearest resistance levels: 1.5200, 1.5300, 1.5500, 1.5750, 1.5800, 1.5960, 1.6000

Nearest support levels: 1.5100, 1.5000

The price of USD/JPY corrected downwards after failed to gain a foothold above $ 117.40 and reached the level of 118.00. According to our forecasts in the near future may continue falling of the price to the level of 116.00. Penetration of this level will be the basis for further price decline with the target at 114.00. We maintain our positive outlook for the medium-term, but in the next few weeks may see a drop in prices.

Nearest resistance levels: 117.40, 118.00, 119.00, 120.00, 120.75, 122.00, 125.00

Nearest support levels: 116.00, 115.00, 114.00, 113.00, 112.00, 110.00

The price of AUD/USD continues to move within a narrow corridor 0,8200-0,82500 after it was unable to continue the growth. In case of decrease quotations are likely to reach the lower limit of the wider corridor 0,8040-0,8250. Continued growth of prices in the near future is unlikely. We recommend holding short positions with a stop above resistance at 0.8360 and maintain a medium-term negative outlook.

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

Nearest support levels: 0.8200, 0.8040, 0.8000, 0.7600, 0.7500

The price of NZD/USD tries to gain a foothold below the level 0.7800. Earlier, the price was unable to gain a foothold above the strong resistance level at 0.7850. In case of fixing the price below 0.7800, we expect further price reduction to the level of 0.7620. Our medium-term outlook remains negative and we recommend holding short positions with a stop above 0.7910.

Nearest resistance levels: 0.7800, 0.7850, 0.7900, 0.8000, 0.8050, 0.8270

Nearest support levels: 0.7700, 0.7660, 0.7500, 0.7300

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