23.12.2014 - Technical view

The price of EUR/USD after a slight correction failed to gain a foothold above 1.2250 and resumed its decline. At the moment, the quotes are consolidated above 1.2200. In case of further reduction the price will reach the target level of 1.2000. Growth is limited by the resistance at 1.2360. We recommend holding short positions and maintain a medium-term negative outlook.

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 continued gradual decrease and has overcome the level 1.5600. In the near future quotes will reach 1.5550. We forecast the price growth after reaching the levels 1,5500-1,5550, with the potential increase up to the levels of 1,5750-1,5800. We predict that the side movement of the price within the corridor 1,5550-1,5800 will continue in the near future and forecast 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

GBP and USD Technincal Analysis in 2014

The price of USD/JPY gradually increasing along the inclined line of resistance. At the moment, the quotes are consolidated near the level of 120.00, and will likely continue to rise with the target near 122.00. In case of correction, the price can be reduced to the level of 119.00. We expect a continuation of the current dynamics and low price volatility in the coming days. Our medium-term outlook remains positive.

Nearest resistance levels: 122.00, 125.00

Nearest support levels: 120.00, 117.40, 115.00, 114.00, 113.00, 112.00, 110.00

The price of AUD/USD updated yearly low and continues to decline in the descending channel. At the moment, quotations reached the level of 0.8100. We look forward to continuing reduction of price to the level of 0.8000, then we can see the correction of price. Our medium-term outlook remains negative and we recommend holding short positions.

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 continued to decline and approached to the sloping support line. In case of breaking quotations will continue to decline up to the bottom of the channel and the level of 0.7660. We recommend holding short positions with a stop above 0.7910 and expect the decline in prices in the descending channel in the medium term.

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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