24.11.2014 - Technical view
The price of EUR/USD reached the level of support near a local minimum 1.2360, but could not overcome it at the first attempt and now corrected upwards. In case of further growth, the price can reach the level of 1.2450. We predict that the quotes can overcome the support level at 1.2360 and continue the downward movement with targets at 1.2200 and 1.2000. We maintain our medium-term negative outlook and recommend holding short positions.
Nearest resistance levels: 1.2450, 1.2500, 1.2600, 1.2700, 1.2825, 1.2925, 1.3000, 1.3160
Nearest support levels: 1.2360, 1.2200, 1.2000
The price of GBP/USD has broken through the upper limit of the downward channel and tries to gain a foothold above it. The price fall is limited by the strong support level at 1.5600. In case of price correction and overcoming the 1.5700 level of, we expect price growth to the levels 1,5900-1,6000. The signal for changing the negative trend will be fixing the price above the level of 1.6000. We expect a further decline of prices to the target level near 1.5500.
Nearest resistance levels: 1.5700, 1.5800, 1.5960, 1.6000, 1.6200, 1.6300, 1.6400, 1.6450
Nearest support levels: 1.5600, 1.5500
The price of USD/JPY failed to gain a foothold above the level of 118.00 after it has reached a seven-year high. At the moment, quotes returned inside the rising channel and consolidate below 118.00. We expect further growth of quotations and recommend holding long positions with a target level near 120.00 and the stop below 115.00. Our medium-term outlook also remains positive.
Nearest resistance levels: 120.00, 122.00, 125.00
Nearest support levels: 115.00, 114.00, 113.00, 112.00, 110.00, 108.50, 107.60, 107.00
The price of AUD/USD after breaking through the upper boundary of the local rising channel started to rise sharply and reached a level of 0.8700. At the moment, the quotes are consolidated below this level in case of continued growth can reach the mark of 0.8800. We expect the resumption of the downward movement, and recommend holding short positions with a stop above 0.8800. We maintain our medium-term negative outlook for the Australian dollar.
Nearest resistance levels: 0.8700, 0.8800, 0.8900, 0.9000, 0.9100, 0.9130, 0.9200
Nearest support levels: 0.8550, 0.8500, 0.8360, 0.8200
The price of NZD/USD is consolidating near the level 0.7900 after it has completed correction. Further growth is limited by the level of 0.8000. We expect further price reduction to the target level near 0.7500 and recommend holding short positions with a stop above 0.8000. We also maintain a medium-term negative outlook and do not see preconditions for changing the negative trend.
Nearest resistance levels: 0.7900, 0.8000, 0.8050, 0.8270, 0.8350
Nearest support levels: 0.7800, 0.7740, 0.7660, 0.7500, 0.7300