22.05.2014 - Technical view

The price of EUR/USD has reached the upper limit of the downward channel and decreased to the level of support at 1.3660. To continue the descending movement the price needs to fix below this level. In case of resumption of growth, a signal to buy will be price fixing above 1.3730. We maintain our medium-and long-term negative outlook for the pair.

Nearest resistance levels: 1.3700, 1.3730, 1.3790, 1.3850, 1.3900, 1.3940

Nearest support levels: 1.3660, 1.3600, 1.3560

Euro and Dollar Forcast

The price of GBP/USD broke the level of 1.6840 and reached the strong resistance at 1.6900. For continued growth with a target at 1.7000, the price needs to gain a foothold above 1.6900. Within the correction the price may fall to 1.6840. We maintain medium and long term positive outlook for the pound.

Nearest resistance levels: 1.6900, 1.7000

Nearest support levels: 1.6840, 1.6770, 1.6700, 1.6600

The price of USD/JPY rebounded from the support level at 100.90 and broke the upper limit of the local downward channel. Now the price is consolidating near the level of 101.60. In case of further growth, a signal to buy will be price fixing above 102.00. We maintain medium and long term positive outlook.

Nearest resistance levels: 102.00, 102.40, 102.70, 103.00, 104.00, 104.70

Nearest support levels: 100.90

Japanese Yen in April 2015

The price of AUD/USD after a sharp decline rebounded from the support level at 0.9220. In case of further growth within the correction, the price may reach 0.9300. We expect continued growth in the near future, but keep medium-term negative outlook for the Australian dollar.

Nearest resistance levels: 0.9300, 0.9320, 0.9340, 0.9400, 0.9450

Nearest support levels: 0.9220, 0.9200, 0.9130

The price of NZD/USD continued its decline within the local downward channel. Now the price is trading near the upper boundary of the channel and is likely to resume a downward movement. Growth is limited by the resistance at 0.8600. We maintain a medium-term negative outlook for the New Zealand dollar.

Nearest resistance levels: 0.8600, 0.8700, 0.8740

Nearest support levels: 0.8540, 0.8520, 0.8450

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