21.11.2014 - Technical view

The price of EUR/USD corrected down to the level of 1.2500, but could not break through it and continues to consolidate above this mark. At the moment, the price moves within the local rising channel and the growth of price is limited by the upper boundary of the channel, and a strong level of 1.2600. In case of renewal of reducing and the price fixing below the boundaries of the channel, we expect price to decline to the levels of 1.2400, 1.2200 and 1.2000. Our medium-term outlook is negative.

Nearest resistance levels: 1.2600, 1.2700, 1.2825, 1.2925, 1.3000, 1.3160

Nearest support levels: 1.2500, 1.2400, 1.2200, 1.2000

The price of GBP/USD corrected upwards and continues to consolidate below 1.5700. It is worth noting that the quotes have broken through the upper limit of the local downward channel and in case of return within the global downtrend may grow to 1,5960-1,6000. Signal of changing the negative trend will be fixing the price above the level of 1.6000. We predict further price decline in the near future.

Nearest resistance levels: 1.5700, 1.5800, 1.5960, 1.6000, 1.6200, 1.6300, 1.6400, 1.6450

Nearest support levels: 1.5600, 1.5500

The price of USD/JPY corrected down after strong growth in the previous days. Currently quotations returned inside the rising channel, and may continue to drop to its lower border. We recommend holding long positions with a target level near 120.00 and stop below 115.00. Our medium-term view remains positive.

Nearest resistance levels: 120.00, 122.00, 125.00

Nearest support levels: 115.00, 114.00, 113.00, 112.00, 110.00, 108.50, 107.60, 107.00

The price of AUD/USD started to decline after it was unable to overcome the upper limit of the downward channel and local resistance at 0.8650. In case of growth, the quotes can reach the level of 0.8800, but the overcoming of this level in the near future is unlikely. We forecast a price decline of the Australian dollar in the medium term with the objectives 0.8500 and 0.8200.

Nearest resistance levels: 0.8660, 0.8800, 0.8900, 0.9000, 0.9100, 0.9130, 0.9200

Nearest support levels: 0.8550, 0.8500, 0.8360, 0.8200

The price of NZD/USD failed to overcome the level of 0.7900, after corrected from the levels close to 0.7800. Further increase in the price is possible to 0.8000. At the moment, the change in the medium-term trend from negative to positive is unlikely. We expect a further fall in the price of the New Zealand dollar in the medium term and recommend holding short positions with targets near 0.7500 and 0.7300 and the stop above 0.8000.

Nearest resistance levels: 0.7900, 0.8000, 0.8050, 0.8270, 0.8350

Nearest support levels: 0.7800, 0.7740, 0.7660, 0.7500, 0.7300

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