22.12.2014 - ​Technical view

The price of EUR/USD after a strong reduction has broken through the minimum level of this year 1.2250 and is trying to gain a foothold below that level. In case of success, quotes will continue to decline with targets at 1.2200 and 1.2000. The price growth in the near future is limited by a strong resistance level 1.2360. Our medium-term negative outlook remains unchanged and we recommend holding short positions on the euro.

Nearest resistance levels: 1.2250, 1.2360, 1.2500, 1.2560, 1.2600, 1.2700, 1.2825, 1.2925

Nearest support levels: 1.2200, 1.2000

The price of GBP/USD continues to move within the corridor 1,5550-1,5800. At the moment, quotes show upward movement after rebounded from the level of 1.5600. In case of continued growth, quotes will reach the levels 1.5750 and 1.5800. Fixing the price beyond the corridor 1,5550-1,5800, will be a signal to open new positions. We recommend to wait for confirmation of the signal in the near future and forecast the price growth in the medium term.

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 overcame the level of 119.00, and continues to consolidate around the level of 119.50. At the moment, we see a weakening of the bulls, but the medium-term trend remains upward. According to our estimates, after some consolidation, quotes will continue to rise with the immediate goal of about 122.00. Signal to open positions will be fixing above 119.50. We maintain our medium-term negative outlook.

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 continues to consolidate below 0.8200. It is worth noting that despite the stop of decline, the price moves in the descending channel and is likely to continue this movement in the near future with a target near 0.8000. The breaking of the upper boundary of the descending channel and the level of 0.8360 will be a signal to close short positions. We recommend holding short positions and maintain a medium-term negative outlook.

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 could not overcome the upper limit of the downward channel, and again began to decline. At the moment, the possible growth of quotations is limited by the level of 0.7780 and the upper boundary of the channel. We recommend holding short positions with a stop above 0.7910 and target near 0.7500. Our medium-term outlook also remains negative and we look forward to continuing the current dynamics within the channel.

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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