21.07.2014 - Technical view
The price of EUR/USD is consolidated between the bottom of the descending channel and the level of resistance at 1.3530. In case of upward correction, the price may reach 1.3560 and 1.3590. More likely is the continuation of a downward movement within the downward channel to 1.3400. Medium-term outlook for the euro remains negative.
Nearest resistance levels: 1.3590, 1.3665, 1.3700, 1.3750, 1.3790
Nearest support levels: 1.3500, 1.3400
The price of GBP/USD has broken through the strong support level 1.7060, but failed to gain a foothold below it and corrected upwards. Long consolidation of price indicates a low potential for growth and the weakness of the bulls. Growth is limited by resistance at the local maximum of about 1.7180. In case of fall, a signal to open short positions will be fixing quotations below 1.7060. We maintain our positive outlook for the medium-term with the nearest targets at 1.7200 and 1.7300.
Nearest resistance levels: 1.7180, 1.7200, 1.7300
Nearest support levels: 1.7060, 1.7000, 1.6950, 1.6900, 1.6810, 1.6770
The price of USD/JPY after a minor upward correction resumed decline and now is approaching the level of support around 101.15. To continue the downward movement, the price needs to overcome and consolidate below 101.15. Growth is limited by the sloping resistance line. We maintain a positive medium-term outlook for the pair, but expect the signals to open positions.
Nearest resistance levels: 102.70, 103.00, 104.00, 104.70
Nearest support levels: 102.15, 100.90, 100.00
The price of AUD/USD has broken through the inclined resistance line and reached the strong level of 0.9400. To continue to grow with the nearest targets around 0.9440 and 0.9500, the price needs to gain a foothold above 0.9400. Fall is limited by the lower boundary of the side corridor near 0.9330. We maintain a medium-term negative outlook with the objectives of 0.9330 and 0.9230.
Nearest resistance levels: 0.9400, 0.9440, 0.9500, 0.9600
Nearest support levels: 0.9330, 0.9300, 0.9220, 0.9200
The price of NZD/USD rebounded from the support of 0.8660 and has almost reached 0.8720. Upward movement may continue after fixing the price above 0.8720. In case of renewal of falling, a signal to open short positions with the target near 0.8560 will become price fixing below 0.8660. We expect the new signals to determine the future direction of the price movement in the medium term.
Nearest resistance levels: 0.8720, 0.8780, 0.8800, 0.8850
Nearest support levels: 0.8660, 0.8600, 0.8560, 0.8480