27.08.2014 - Technical view
The price of EUR/USD after a long consolidation below 1.3200 resumed decline and has reached the level 1.3160. In case of correction within the local downward channel, the price can reach its upper limit and a strong level of 1.3200. Reversal of the local downward trend will be completed in case of fixing the price above 1.3300. We expect continued downward movement and maintain a medium-term negative outlook with a target at about 1.2800.
Nearest resistance levels: 1.3200, 1.3240, 1.3300, 1.3350, 1.3440, 1.3500, 1.3530
Nearest support levels: 1.3160, 1.3000, 1.2800
The price of GBP/USD failed to overcome the level of 1.6600, and after a long consolidation reached a low of Monday. To continue the downward movement the price needs to fix below this level. To change the trend the price has to break the upper limit of the channel and to gain a foothold above the level of 1.6600. In the near future, the decline may continue, but our 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 after yesterday's decline returned to the level of 104.00 and continues to consolidate near this mark. Fall is limited by sloped line of support, and to continue to grow the price needs to gain a foothold above 104.00. We expect continued growth of quotations with the objectives of 104.70 and 105.40, and maintain a medium-term positive outlook.
Nearest resistance levels: 104.70, 105.40
Nearest support levels: 104.00, 103.00, 102.70, 102.20, 101.70, 101.15, 100.90, 100.00
The price of AUD/USD again reached a strong level of 0.9330, but was unable to break it and retreated downwards. The resumption of an upward trend with the closest target near 0.9440 is possible in case of fixing the price above 0.9340. We maintain our negative medium-term outlook for the Australian dollar with the nearest targets at 0.9240 and 0.9200.
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 after slowing the downward trend and consolidation around the level of 0.8330, has started to grow and now is approaching a sloping resistance line. Further growth is possible to 0.8400. Downward movement may continue in the near future, but its potential is significantly reduced and there is a large probability of a rising price correction.
Nearest resistance levels: 0.8400, 0.8470, 0.8530, 0.8560, 0.8600, 0.8660, 0.8720
Nearest support levels: 0.8300, 0.8220