23.01.2015 - Technical view

The price of EUR/USD fell sharply after reaching the upper limit of the downward channel and within the fall has reached its lower boundaries and approached to the level of 1.1300. In case of further decline, the price will fall to the level of 1.1200 and 1.1000. Correction is possible within the channel with the upside potential to 1.1500. Our medium-term outlook remains negative and we recommend holding short positions.

Nearest resistance levels: 1.1500, 1.1620, 1.1750, 1.1800, 1.1860, 1.2000, 1.2165, 1.2250

Nearest support levels: 1.1300, 1.1200, 1.1000

The price of GBP/USD after some consolidation below 1.5200, started to decline sharply and broke through the psychologically important level of support at 1.5000. Currently quotes are reduced along the bottom of the channel. In case of correction, the price may rebound to the level of 1.5050. We recommend holding short positions and maintain a medium-term negative outlook with the targets at 1.4700 and 1.4500.

Nearest resistance levels: 1.5000, 1.5050, 1.5200, 1.5260, 1.5500, 1.5750, 1.5800

Nearest support levels: 1.4700, 1.4500

The price of USD/JPY rose after another unsuccessful attempt at to break through the support level of 117.40. In the case of overcoming and fixing the price above the level of 119.00, we expect growth of quotations to 120.00 and 120.75. The fall is limited by a strong support at 116.00. According to our forecasts, the price will continue to rise in the medium term, but in the next trading session, we may see a drop in prices.

Nearest resistance levels: 119.00, 120.00, 120.75, 122.00, 125.00

Nearest support levels: 117.40, 116.00, 115.00, 114.00, 113.00, 112.00, 110.00

The price of AUD/USD accelerated the decline and has overcome the lower boundary of the corridor 0,8040-0,8250. It is worth noting that the quotes were able to overcome the psychologically important level of 0.8000, which is the basis for the continuation of this negative trend. According to our estimates, the price decline of the Australian dollar will continue in the medium term, with the potential reduction up to 0.7600 and 0.7500. We also recommend holding short positions with a stop above 0.8250.

Nearest resistance levels: 0.8000, 0.8040, 0.8200, 0.8250, 0.8360, 0.8550, 0.8700

Nearest support levels: 0.7600, 0.7500

The price of NZD/USD continues to fall, after breaking through the lower boundary of the corridor 0,7620-0,7850. It is worth noting that the price has reached another target level at 0.7500 and continued to fall. According to our estimates, the decline will continue to 0.7300. In case of correction, quotations may grow up to 0.7620. Our medium-term negative outlook and recommendation to hold short positions remain unchanged.

Nearest resistance levels: 0.7500, 0.7620, 0.7700, 0.7800, 0.7850, 0.7900, 0.8000

Nearest support levels: 0.7300, 0.7200, 0.7000

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