25.11.2014 - Technical view
The price of EUR/USD within the correction rose to levels near 1.2450 and the nearest local minimum and could not overcome it. Fixing the price below this mark is a confirmation of the signal to sell. According to our estimates in the near future quotes will reach the strong support level at 1.2360. We recommend holding short positions with a stop above 1.2600 and target levels 1.2200 and 1.2000. Our medium-term outlook is also negative.
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 showed a slight increase yesterday, but was unable to return to the medium-term descending channel and continues to consolidate under its lower boundary. In case of breaking this level, the price may rise to the levels 1,5960-1,6000 and the upper boundary of the channel. The nearest support levels are 1.5500 and 1.5600. We expect increased volatility today and price most likely will continue to decline.
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 after a slight increase along the upper limit of the channel, slightly strengthened and continues to consolidate near the level of 118.00. Further price reduction is limited by the lower boundary of the rising channel in case of penetration of which, quotations may fall to 115.00. We recommend holding long positions with a stop below 115.00 and the target level near 120.00, but we admit a decrease of growth potential. Our medium-term outlook 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 continues to fall above the upper boundary of the local descending channel. At the moment, the quotes are consolidated near a strong level of 0.8600 and in the near future may continue to fall within a local minimum near 0.8550, after breaking through which the price is likely to reach the level of 0.8360 and 0.8200. We recommend holding short positions with a stop above 0.8800 and maintain a medium-term negative outlook.
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 dropped to the strong support at 0.7830 and is trying to overcome it. At the moment there is a high probability of the price rebound from this level, but corrective gains will be minimal. We recommend holding short positions with a stop above 0.8000 and expect the acceleration of the fall after fixing the price below 0.7830. We also maintain a medium-term negative view on the New Zealand dollar.
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