28.01.2015 - Technical view

The price of EUR/USD continued to correct upwards after returning to the descending channel. At the moment we are seeing a decline in quotes after the price has not been able to overcome the level of 1.1400. In case of further upward correction, quotes will rise to 1,1500-1,1620. According to our forecasts drop in prices will continue in the medium term and we expect the resumption of downward momentum in the near future with the first targets at 1.1100 and 1.1000 and recommend holding short positions.

Nearest resistance levels: 1.1400, 1.1500, 1.1620, 1.1750, 1.1800, 1.1860, 1.2000

Nearest support levels: 1.1100, 1.1000, 1.0800, 1.0500

December 23 of USD Performance

The price of GBP/USD showed strong growth and reached resistance at 1.5200. To continue the upward movement with the objectives at 1,5260-1,5300 and higher, the price must break through this resistance level. The growth of price is limited by the upper limit of the downward channel and strong resistance at 1.5500. We expect the resumption of downward price movement and expect increased volatility today. Our medium-term negative view remains unchanged.

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

Nearest support levels: 1.5050, 1.5000, 1.4700, 1.4500

The price of USD/JPY is consolidated within the corridor 117,40-119,00. Decrease in the amplitude of price fluctuations indicates a strong price movement after the end of consolidation. To continue the growth the price should gain a foothold above 119.00 and then can reach 120.75 and 122.00. In case of breaking through the level 117.40, we expect a drop in prices to 116.00. Our medium-term outlook remains positive.

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 reached the level of 0.8000 after started to correct upwards. Further growth of price is limited by resistance levels at 0.8040 and 0.8085. We forecast growth of price volatility today. The most likely is the resumption of the downward trend of price with the potential reduction up to 0.7500. We maintain our medium-term negative outlook and recommend holding short positions.

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

The price of NZD/USD after the rebound from the support level at 0.7400, started to correct and at the moment grows within a narrow local ascending corridor. Further growth is possible within the correction to the level of 0.7500. According to our forecasts, the price volatility will considerably increase tonight. We recommend holding short positions with a stop above 0.7700 and target at 0.7000 and maintain a medium-term negative outlook.

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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