24.12.2014 - Technical view
The price of EUR/USD fell sharply yesterday after consolidation below the level of 1.2250. At the moment, the quotes are consolidated below 1.2200. According to our estimates, the current negative trend will continue until the target level of 1.2000. It is worth noting that the increase is limited by the level of 1.2250 and 1.2360. We recommend holding short positions and maintain a medium-term negative outlook for the euro.
Nearest resistance levels: 1.2250, 1.2360, 1.2500, 1.2560, 1.2600, 1.2700, 1.2825, 1.2925
Nearest support levels: 1.2200, 1.2000
The price of GBP/USD broke through the strong support level at 1.5550 and reached the psychologically important level of 1.5500. In case of overcoming this level, we forecast a drop to 1.5000. For the resumption of growth, the price must break through the inclined resistance line. In this case, the price can reach levels 1,5750-1,5800. We recommend to wait for the price fixing below 1.5500 to open short positions.
Nearest resistance levels: 1.5750, 1.5800, 1.5960, 1.6000, 1.6200, 1.6300, 1.6400
Nearest support levels: 1.5500, 1.5300, 1.5000
The price of USD/JPY almost reached the level of 121.00, and started to correct downwards. The current decline is insignificant and the overall positive dynamics is likely to continue in the near future. In the coming days we expect side dynamics. The increased volatility is possible on Thursday and Friday. We recommend holding long positions with the closest targets near 122,00 and maintain a medium-term negative outlook.
Nearest resistance levels: 122.00, 125.00
Nearest support levels: 120.00, 117.40, 115.00, 114.00, 113.00, 112.00, 110.00
The price of AUD/USD continues to consolidate near 0.8100 the level of. The growth of price is limited by the upper boundary of the descending channel and the level of 0.8200. In the near future we are likely to see continued consolidation of quotations near current levels. Our medium-term outlook remains negative and we recommend holding short positions.
Nearest resistance levels: 0.8200, 0.8360, 0.8550, 0.8700, 0.8800, 0.8900, 0.9000
Nearest support levels: 0.8000, 0.7600, 0.7500
The price of NZD/USD continues a gradual decrease and is currently consolidating above 0.7700. The growth of price in the near future is limited by the upper limit of the downward channel and resistance at 0.7780. We expect a further reduction of quotations within the channel and recommend holding short positions with the target of 0.7500. We also maintain a medium-term negative outlook.
Nearest resistance levels: 0.7780, 0.7825, 0.7900, 0.8000, 0.8050, 0.8270, 0.8350
Nearest support levels: 0.7660, 0.7500, 0.7300