23.07.2014 - Technical view

The price of EUR/USD after a long consolidation, broke the lower boundary of the channel and reached a sloping support line. In case of upward correction, quotations may reach 1.3480 and 1.3500. Our medium-term outlook remains negative and we recommend holding short positions up to reaching the nearest target of about 1.3400.

Nearest resistance levels: 1.3500, 1.3530, 1.3590, 1.3665, 1.3700, 1.3750, 1.3790

Nearest support levels: 1.3400, 1.3200, 1.3000

The price of GBP/USD after reaching support at 1.7060, slowed the fall and is now trying to break through the reclining resistance line. In case of breaking 1.7060 and fixing below this level, we with a high probability expect that quotes of the British pound will reach the level of 1.6950. At this point we expect the upward price correction with the first target of about 1.7100 and maintain a medium-term positive outlook.

Nearest resistance levels: 1.7100, 1.7180, 1.7200, 1.7300

Nearest support levels: 1.7060, 1.7000, 1.6950, 1.6900, 1.6810, 1.6770

The price of USD/JPY after reaching the upper boundary of descending channel continues to move along it. In case of further correction within the channel, the quotes will reach the level of 101.15. In case of resumption of growth the signal for opening long positions will be fixing the price above 101.70. We maintain a positive medium-term outlook for the pair.

Nearest resistance levels: 101.70, 102.20, 102.70, 103.00, 104.00, 104.70

Nearest support levels: 101.15, 100.90, 100.00

The price of AUD/USD after breaking through and consolidation above the sloping resistance line, has overcome the level of 0.9400 and reached the mark of 0.9440, which is the upper limit of the side corridor. Continued growth is possible after fixing the price above 0.9440. At the moment there is a high probability of reduction of the Australian dollar with the target of about 0.9330. We recommend to open short positions and maintain a medium-term negative outlook.

Nearest resistance levels: 0.9440, 0.9500, 0.9600

Nearest support levels: 0.9330, 0.9300, 0.9220, 0.9200

AUD/USD Forcast

he price of NZD/USD rebounded upwards from the bottom edge of the side corridor 0,8660-0,8720. Despite the likelihood of continued price growth up to 0.8720, we recommend to wait for the price fixing beyond the corridor because of expectation of strong growth in price volatility.

Nearest resistance levels: 0.8720, 0.8780, 0.8800, 0.8850

Nearest support levels: 0.8660, 0.8600, 0.8560, 0.8480

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