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23.04.2014 -Technical view

Futures on the broad U.S. stock index S&P 500 broke through the upper limit of the local downstream channel and now are trying to gain a foothold above the strong level of 1880. Further growth is limited by the level of a historic high at 1900. To continue the growth the price needs to gain a foothold above this mark. In case of decrease the price may fall to 1840 and 1813. We expect the resumption of downward movement in the medium term and keep long-term negative outlook on the U.S. market.

Nearest support levels: 1870, 1858, 1840, 1813, 1800, 1780

Nearest resistance levels: 1900, 1950

The price of euro continues to consolidate in the corridor 1,3790-1,3850. In case of reduction, a signal to sell will be price fixing under the lower boundary of the corridor. In such case the target price will be at 1.3750 and 1.3700. Growth is limited by a strong resistance level at 1.3900. We expect continued downward movement and keep a long-term negative outlook.

Nearest support levels: 1.3790, 1.3750, 1.3700, 1.3640, 1.3560

Nearest resistance levels: 1.3850, 1.3900, 1.3960

The price of GBP/USD continues to consolidate in the corridor 1,6770-1,6840. In case of growth, a signal to buy will be price fixing above 1,6840. For further decline the price will need to fix below 1.6770. In such a case the pound may reach the lower boundary of the channel and the level of 1.6700. We maintain a long-term positive outlook for the pound.

Nearest support levels: 1.6770, 1.6700, 1.6650, 1.6600

Nearest resistance levels: 1.6840, 1.6900, 1.7000

The price of USD/JPY continues to consolidate under a strong resistance level of 102.70. In case of continued growth, a signal to buy will be price fixing above 102.70. In such case the target levels will be at 104.00 and 104.70. Fall is limited by the level of support at 102.35. We keep medium and long term positive outlook for USD/JPY.

Nearest support levels: 102.35, 101.25, 100.90, 100.40

Nearest resistance levels: 102.70, 104.00, 104.70, 105.40

The price of AUD/USD dropped sharply and has broken the support levels at 0.9325 and 0.9300. We expect price correction upwards. The targets in such sitution can become 0.9300 and 0.9325. After correction, we expect further downward movement with the targets at 0.9215 and 0.9250. We maintain a medium-term negative outlook for the Australian dollar.

Nearest support levels: 0.9250, 0.9215, 0.9130, 0.9100, 0.9000, 0.8925

Nearest resistance levels: 0.9300, 0.9400, 0.9460, 0.9500

USD Performance

The price of the New Zealand dollar broke through the upper limit of the local rising channel and tries to gain a foothold above the strong level of 0.8590. In case of continued upward movement, a signal to buy will be price fixing above 0.8630. With the resumption of the decline, the price can reach levels of 0.8550 and 0.8520. We expect continued growth in the medium term.

Nearest support levels: 0.8550, 0.8520, 0.8450, 0.8390, 0.8250

Nearest resistance levels: 0.8630, 0.8650, 0.8700, 0.8800

The price of gold continued to decline and now is consolidating above 1280 dollars per troy ounce. In case of further decrease the price may fall to 1265. In case of resumption of growth, a signal to buy will be breaking through the upper boundary of the local downstream channel and fixing the price above 1305. We expect the resumption of growth and keep medium and long term positive outlook for gold.

Nearest support levels: 1278, 1265

Nearest resistance levels: 1305, 1312, 1330, 1344, 1352

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