24.10.2014 - ​Technical view

The price of EUR/USD after breaking through the lower boundary of the local uptrend channel and the level 1.2700, continued to decline, but failed to reach the target level of 1.2600. Currently quotes are consolidating above this mark. The growth of price is limited by the levels of 1.2700 and 1.2825. We expect a further decline in quotations of euro to the levels 1.2500 and 1.2200. We recommend holding short positions and maintain a medium-term negative outlook.

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 reached the level of 1.6000, but was unable to continue the downward movement and consolidated above this mark. To continue the current negative dynamics with the objectives of the local minimum of about 1.5880, the price needs stimulus for breaking through the level of 1.6000. Despite the current decline, we see a reduction in the potential of the fall and maintain a medium-term positive outlook for the British pound. A signal to buy will be fixing the price above 1.6200.

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 after breaking through the upper boundary of the triangle grew up to the strong resistance level of 108.50 and the upper boundary of the rising channel. At the moment, there is a possibility of price correction to the lower boundary of the channel, after which we expect breaking the level of 108.50 and continued growth to 110.00. Our medium-term outlook remains positive.

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 is gradually decreasing within the side channel 0,8660-0,8800. This dynamics has continued for a long period and to determine the future direction of price, we need a new signal in the form of price fixing above 0.8925 or below 0.8660. Volatility today will remain low. We reaffirm our negative medium-term forecast and recommend holding short positions.

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 decreased to the strong level of 0.7800 and rebounded of it. In case of overcoming this mark, quotations will likely continue to fall with the objectives of 0.7740 and 0.7500. For the resumption of growth, quotes need to go back within the local rising channel and to overcome resistance at 0.7900. Potential of the fall decreased, but we keep the medium-term negative outlook and recommend holding short positions.

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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