21.04.2014 - Technical view

Futures on broad American stock index S&P 500 has overcome the resistance level at 1858 and continued the upward movement. For further growth, the price needs to gain a foothold above the strong level of 1880. A signal to sell will be price fixing below the level of 1813. Upside potential of the U.S. market is limited in the medium term. We expect a decline of the futures in the long-term.

Nearest resistance levels: 1880, 1900

Nearest support levels: 1858, 1840, 1813


The price of euro continues to move near the lower boundary of the corridor 1,3810-1,3850. To determine the future direction of price we need new signals. A signal to sell will be price fixing below 1.3790, a buy signal - fixing the price above 1.3850. We maintain a long-term negative outlook on the euro.

Nearest resistance levels: 1.3850, 1.3900, 1.4000

Nearest support levels: 1.3810, 1.3790, 1.3750, 1.3700


The price of the British pound after a long consolidation above the strong level of 1.6770, resumed an upward movement. In case of continued growth, the price may reach a local maximum at 1.3840 and upper boundary of the rising channel. In case of reduction, a signal to sell will be price fixing below 1.6770. We expect continued ascending movement within the channel and keep medium and long term positive outlook for the pound.

Nearest resistance levels: 1.6840, 1.6900

Nearest support levels: 1.6770, 1.6700, 1.6600


The price of USD/JPY continued to rise and reached a strong resistance level at 102.70. To continue further growth the price needs to gain a foothold above this level. We expect that the price will not be able to overcome this level from the first attempt but expect continued growth of price in the medium and long term. Reduction within the correction is possible to 102.35.

Nearest resistance levels: 102.70, 103.00, 104.00, 104.70

Nearest support levels: 102.35, 102.00, 101.50, 101.25


The price of the Australian dollar continues to consolidate near the level of 0.9330. At present time the price approached the upper boundary of the local downstream channel. In case of resumption of growth, a signal to buy will be price fixing above 0.9390. We expect further downward price movement within the channel with the objectives at 0,9300, 0,9250 and keep a medium-term negative outlook.

Nearest resistance levels: 0.9390, 0.9450

Nearest support levels: 0.9300, 0.9215, 0.9130


The price of NZD/USD fixed below 0.8590 and now is consolidating within the limits of the local downstream channel above the level of 0.8560. For further reduction, the price needs to fix below this mark. In such case, the price may drop to 0.8520 and the lower boundary of the descending channel. We expect renewed growth of the New Zealand dollar in the medium term.

Nearest resistance levels: 0.8590, 0.8630, 0.8700

Nearest support levels: 0.8560, 0.8520, 0.8450


The price of gold fixed below the $ 1,300 per troy ounce and renewed decline. Further fall is limited by the level of 1280 at which the purchases may resume. We expect the resumption of price consolidation in the corridor 1280-1310 in the medium term, but keep a long-term positive outlook.

Nearest resistance levels: 1300, 1310, 1315, 1330

Nearest support levels: 1280, 1265

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