24.09.2014 - Technical view
The price of EUR/USD gradually decreases along the inclined line of resistance. Despite the slowdown in the pace of decline, we see a steady downward trend and after a long consolidation around the level of 1.2850, we can see the continuation of reduction of price with the targets of 1,2660 and 1,2500. Growth is limited by the level of 1.3000, in case of fixing above which we recommend to close long positions. Our medium-term outlook remains negative.
Nearest resistance levels: 1.3000, 1.3100, 1.3160, 1.3200, 1.3240, 1.3300, 1.3350
Nearest support levels: 1.2800, 1.2660, 1.2500
The price of GBP/USD despite yesterday's rise in volatility continues to increase gradually along the bottom of the rising channel and in the near future is likely to reach the level of 1.6450 and then rise up to 1.6530. Supports are the lower boundary of the channel and the level of 1.6300. We recommend holding long positions and maintain a positive outlook with the medium-term objectives at 1.6770 and 1.6900.
Nearest resistance levels: 1.6450, 1.6535, 1.6600, 1.6670
Nearest support levels: 1.6300, 1.6200, 1.6050, 1.6000
The price of USD/JPY has failed to fix below 108.50 and now is consolidating above this level. In case of a fall, the price may reach the inclined support level. It is worth noting that after a long consolidation and considering the low amplitude of oscillations there is a high probability of a strong price movement. We maintain our positive outlook for the medium-term with the closest target near 110.00.
Nearest resistance levels: 110.00, 111.00, 115.00, 120.00
Nearest support levels: 108.50, 107.00, 106.00, 105.40, 104.70, 104.00, 103.70
The price of AUD/USD today has corrected upwards after a sharp fall, but continues to move within the downward channel. Growth of price is still limited by the psychologically important mark of 0.9000. We recommend holding short positions with a stop above 0.9000 and maintain a medium-term negative outlook with the objectives of 0.8800 and 0.8660.
Nearest resistance levels: 0.9000, 0.9100, 0.9130, 0.9200, 0.9240, 0.9330, 0.9400, 0.9440
Nearest support levels: 0.8800, 0.8860, 0.8800
The price of NZD/USD after breaking through the level of 0.8100, reached 0.8050 and began to be correct upwards. At the moment, the price has reached the level of the previous local minimum and probably will resume its decline. Growth is limited by a sloping resistance level and the level of 0.8100. We recommend holding short positions on the New Zealand dollar and maintain a medium-term negative outlook with the closest target at 0.8000.
Nearest resistance levels: 0.8100, 0.8270, 0.8350, 0.8400, 0.8425, 0.8470, 0.8530, 0.8560
Nearest support levels: 0.8000