22.09.2014 - Technical view
The price of EUR/USD continues to decline after an unsuccessful attempt to gain a foothold above the level of 1.2900. The price growth is limited by the strong inclined resistance level and the level of 1.3000. The breaking and fixation above this level will be a signal to the fixation of short positions. We recommend holding short positions in the euro and maintain a medium-term negative outlook with the objectives of 1.2800 and 1.2500.
Nearest resistance levels: 1.3000, 1.3100, 1.3160, 1.3200, 1.3240, 1.3300, 1.3350
Nearest support levels: 1.2860, 1.2800, 1.2660, 1.2500
The price of GBP/USD after strong price movements upwards and a sharp downward correction has reached the lower limit of the upward channel and after the rebound from it continues to grow gradually. We expect continued growth of quotations in the near future with the objectives of 1.6450 and 1.6530. Signal of changing the local uptrend will be breaking through the lower boundary of the channel and fixing the price below 1.6300. We recommend to open long positions on the pound and expect the price growth in the medium term.
Nearest resistance levels: 1.6450, 1.6535, 1.6600, 1.6670
Nearest support levels: 1.6300, 1.6200, 1.6050, 1.6000
The price of USD/JPY continues to consolidate above the strong level of 108.50. In the near future quotations will reach a mark of 110.00. In case of a deeper correction, the price may drop to inclined line of support and the level of 107.00. We recommend holding short positions with target prices of about 120,00 in the medium term. Stop should be set below 107.00.
Nearest resistance levels: 110.00, 111.00, 115.00, 120.00
Nearest support levels: 108.50, 107.00, 106.00, 105.40, 104.70, 104.00, 103.70
The price of AUD/USD after a long consolidation below 0.9000, accelerated decline and has broken through the local minimum of about 0.8950. In case of continuation of the current negative trend quotations will reach the levels of 0.8900 and 0.8800. We recommend holding short positions on the Australian dollar with a stop above 0.9100. Our medium-term outlook remains negative.
Nearest resistance levels: 0.9000, 0.9100, 0.9130, 0.9200, 0.9240, 0.9330, 0.9400, 0.9440
Nearest support levels: 0.8900, 0.8860, 0.8800
The price of NZD/USD has broken through the level of 0.8100, but failed to gain a foothold above it and began to correct upwards. At the moment, the price reached the bottom of the channel and may return in its frames. A signal to close short positions will be the overcoming of the local maximum level 0.8230. We maintain a medium-term negative outlook for the New Zealand dollar and recommend holding short positions.
Nearest resistance levels: 0.8270, 0.8350, 0.8400, 0.8425, 0.8470, 0.8530, 0.8560
Nearest support levels: 0.8100, 0.8000