26.08.2014 - Technical view
The price of EUR/USD after reaching the lower limit of the local descending channel stopped falling and now is consolidating around the level 1.3200. To continue the negative trend, the price needs to fix below this mark. Within the correction, the quotes may rise to the upper boundary of the channel and the level of 1.3240. Signal of a trend change will be fixing the price above 1.3300. We maintain a medium-term negative outlook with a target near 1.2800.
Nearest resistance levels: 1.3240, 1.3300, 1.3350, 1.3440, 1.3500, 1.3530, 1.3590, 1.3665
Nearest support levels: 1.3200, 1.3160, 1.3000, 1.2800
The price of GBP/USD continues to consolidate below 1.6600 and is approaching to the upper boundary of the descending channel. In case of breaking through this border and fixing above the level of 1.6670, we recommend to open long positions with the targets of 1.6810 and 1.7000. According to our forecasts, the price may continue downward movement in the near future, but the medium-term outlook remains positive.
Nearest resistance levels: 1.6600, 1.6670, 1.6700, 1.6770, 1.6810, 1.6890, 1.7000
Nearest support levels: 1.6550, 1.6500, 1.6460
The price of USD/JPY was unable to gain a foothold above the important level of 104.00 and started to correct. In the near future, the quotes, will reach the sloping support line and probably will rebound of it. Continued upward movement is possible after fixing the price above 104.00. We maintain our positive forecast for the medium-term with the closest objectives of 104.70 and 105.40.
Nearest resistance levels: 104.00, 104.70, 105.40
Nearest support levels: 103.00, 102.70, 102.20, 101.70, 101.15, 100.90, 100.00
The price of AUD/USD after reaching the upper limit of the downward channel and strong resistance level at 0.9330, has started to decline, and probably soon will reach the level of 0.9240, in case of breaking through which will continue to fall with the objectives of 0.9200 and 0.9100. Growth is limited by resistance near 0.9330. We maintain the medium-term negative outlook and recommend holding short positions.
Nearest resistance levels: 0.9330, 0.9440, 0.9500, 0.9600
Nearest support levels: 0.9240, 0.9200, 0.9100
The price of NZD/USD has broken through the level of the nearest local minimum near 0.8350 and now is trying to fix below this mark. In case of success the price may continue to fall to the levels of 0.8300 and 0.8220. Growth is limited by the inclined line of resistance and an important level of 0.8400. We expect further decline of price in the near future.
Nearest resistance levels: 0.8350, 0.8400, 0.8470, 0.8530, 0.8560, 0.8600, 0.8660, 0.8720
Nearest support levels: 0.8300, 0.8220