26.01.2015 - ​Technical view

The price of EUR/USD reached the level of 1.1100 after broke the lower limit of the downward channel. In case of correction, quotations may grow up to 1.1300. Given the strong downward momentum, the price will continue to decline to the psychologically important level of 1.1000. At the moment, we do not see preconditions for change of sustainable downtrend. Our medium-term outlook is negative and we recommend holding short positions.

Nearest resistance levels: 1.1300, 1.1500, 1.1620, 1.1750, 1.1800, 1.1860, 1.2000

Nearest support levels: 1.1100, 1.1000, 1.0800, 1.0500

The price of GBP/USD after breaking through the strong resistance level of 1.5050, continues to consolidate around the level of 1.5000. Fixing the price below this mark is the basis for the continuation of the downward movement with a target at 1.4700. Growth is limited by the level of 1.5200. We maintain our medium-term negative outlook and recommend to wait for the confirmation for opening short positions.

Nearest resistance levels: 1.5050, 1.5200, 1.5260, 1.5500, 1.5750, 1.5800

Nearest support levels: 1.4700, 1.4500

The price of USD/JPY could not continue to fall and rebounded from the level of 117.40. At the moment, the prices can continue to rise to the levels of 118,50-119,00. Fixing the price below 117.40 will be the reason for further price decline to the level of 116.00, breaking through which is unlikely. We maintain our positive outlook for the medium-term, but in the near future we may see a decrease to 116.00.

Nearest resistance levels: 119.00, 120.00, 120.75, 122.00, 125.00

Nearest support levels: 117.40, 116.00, 115.00, 114.00, 113.00, 112.00, 110.00

The price of AUD/USD shows a steady decline after it has overcome the psychologically important support level at 0.8000. The price reached the level of 0.7860, and may show minor correction, which is limited by the levels 0,8000-0,8040. We expect saving the current negative trend and recommend holding short positions with the target at 0.7500.

Nearest resistance levels: 0.8000, 0.8040, 0.8200, 0.8250, 0.8360, 0.8550, 0.8700

Nearest support levels: 0.7860, 0.7600, 0.7500

AUD Forcast

The price of NZD/USD decreases along the sloping support line. At the moment the price is consolidating above 0.7400 and in case of correction, can reach the level of 0.7500. Increase in volatility is expected on Wednesday. According to our estimates the downward movement will continue in the near term and in the medium term. We recommend holding short positions with a stop above 0.7620 and target at 0.7000.

Nearest resistance levels: 0.7500, 0.7620, 0.7700, 0.7800, 0.7850, 0.7900, 0.8000

Nearest support levels: 0.7400, 0.7300, 0.7200, 0.7000

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