23.10.2014 - Technical view

The price of EUR/USD accelerated the decline after breaking and fixing the prices below the lower boundary of the local rising channel. Currently quotations continue the downward movement and according to our forecasts will reach the level of 1.2600, and then probably will fall to 1.2500. The growth of the price is limited by the level of 1.2825. We maintain a medium-term negative outlook and recommend holding short positions with a stop above 1.2925.

Nearest resistance levels: 1.2700, 1.2825, 1.2925, 1.3000, 1.3100, 1.3160, 1.3200, 1.3240

Nearest support levels: 1.2600, 1.2500, 1.2450, 1.2200

The price of GBP/USD continued to fall after overcoming the level of support at 1.6125. A further reduction is possible to the levels of 1.5960 and 1.5880. Signal of changing of the negative to the positive trend will be fixing the price above the level of 1.6200. In the near future we will probably see a price consolidation around current levels. Reduction potential is small and we expect the resumption of upward momentum in the medium term with the objectives of 1.6450 and 1.6530.

Nearest resistance levels: 1.6200, 1.6300, 1.6400, 1.6450

Nearest support levels: 1.6000, 1.5880, 1.5800, 1.5600

The price of USD/JPY compensated previous losses and now is consolidating above the level of 107.00. Fixing the price above the level of 107.35 will be a signal to open long positions. Fall is limited by a strong support level located at 105.40. Despite the decrease in strength of bulls, we maintain a positive outlook for the medium-term and recommend to wait for confirmation of signal to open long positions.

Nearest resistance levels: 108.50, 110.00, 111.00, 115.00, 120.00

Nearest support levels: 107.00, 106.00, 105.40, 104.70, 104.00, 103.70

The price of AUD/USD decreased slightly and continues to consolidate near the upper boundary of the side of the corridor. The growth of quotations is limited by the level of 0.8900. In case of overcoming the mark of 0.8925, we recommend closing short positions. To continue the downward movement, the price needs to break through the strong support level at 0.8660. We recommend holding short positions and maintain a medium-term negative outlook.

Nearest resistance levels: 0.8800, 0.8900, 0.9000, 0.9100, 0.9130, 0.9200

Nearest support levels: 0.8660, 0.8600, 0.8550, 0.8500

The price of NZD/USD has broken through the level of 0.7900 and the lower boundary of the local downward channel. Fixing the price below the local minimum near 0.7800 will be a signal to sell. We expect further price decline in the near future and recommend holding short positions with a stop above 0.8085. Today is expected the increase of price volatility. Our medium-term outlook remains negative.

Nearest resistance levels: 0.7900, 0.8000, 0.8050, 0.8270, 0.8350

Nearest support levels: 0.7800, 0.7740, 0.7700, 0.7500

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