19.12.2014 - Technical view

The price of EUR/USD after consolidation below the level of 1.2360, continued to decline and approached a local minimum near 1.2250. To continue the downward movement with objectives 1.2200 and 1.2000, the price needs to fix below 1.2250. At the moment there is a high probability of upward price rebound from the strong support level. Fixing positions before the weekend will contribute to corrective gains. We maintain our medium-term negative outlook and recommend holding short positions.

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

Nearest support levels: 1.2250, 1.2200, 1.2000

The price of GBP/USD rebounded from the support level at 1.5550, which coincides with the local minimum and now has stabilized near the level of 1.5650. Further growth is possible to the levels of 1.5750 and 1.5800. Consolidation above 1.5800, will be a signal for opening long positions. On the other hand, fixing the price below 1.5550 will be the cause to open short positions. We recommend to wait for a confirmation of the signal for further action.

Nearest resistance levels: 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 after reaching the level of 119.00 stopped the growth and continues to consolidate close to this mark. If the price fixates above 119.00, we expect a continuation of the upward trend to the level of 122.00. Fall is limited by the level of 117.40. We recommend to wait for a confirmation of the signal to buy and forecast price growth in the medium term.

Nearest resistance levels: 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 started to correct after breaking through the strong support level at 0.8200 and now is consolidating below this mark. Further growth of quotations is limited by the upper limit of the downward channel and its penetration in the near future is unlikely. We forecast a further drop in prices in the descending channel and recommend holding short positions with the target of 0.8000. Our medium-term view remains negative.

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 continued to rise and reached the strong the level of 0.7780. At the moment, quotes approached the upper boundary of the downward channel. In case of breaking through the upper limit of the channel, the price may rise to the level of 0.7910. We expect a decrease in quotations in the near future and recommend holding short positions with a stop above 0.7910. Our medium-term outlook remains negative.

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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