28.10.2014 - Technical view

The price of EUR/USD gradually grows and continues to move near the level of 1.2700. In case of continuing current dynamics, the price is likely to reach the level of 1.2825. Overcoming this level is unlikely. Despite the current upward momentum, we expect the resumption of price reduction in the near future with the objectives of 1.2500 and 1.2200. We recommend holding short positions and maintain a medium-term negative view on the euro.

Nearest resistance levels: 1.2700, 1.2825, 1.2925, 1.3000, 1.3100, 1.3160, 1.3200, 1.3240

Nearest support levels: 1.2600, 1.2500, 1.2450, 1.2200

The price of GBP/USD has overcome the level of 1.6100 and continues to rise in price gradually. Further growth is limited by the sloping line of resistance. Signal of a trend change will be fixing the price above the level of 1.6200. In such a case we recommend to open long positions with the closest targets at 1.6450 and 1.6530 and stop below 1.6000. We maintain our positive outlook for the medium-term, but recommend to wait for the confirmation of the signal for the opening long positions.

Nearest resistance levels: 1.6200, 1.6300, 1.6400, 1.6450

Nearest support levels: 1.6000, 1.5880, 1.5800, 1.5600

September 9 of USD Performance

The price of USD/JPY has broken through the lower boundary of the local rising channel and continues to consolidate below 108.00. To continue further growth, the price should be fixed above the important level of 108.50. We recommend holding long positions with the target near 110.00 and a stop below 107.00. The fall in prices is limited by the level of 105.40. Our medium-term outlook also remains positive with the objectives of 112.00 and 115.00.

Nearest resistance levels: 108.50, 110.00, 111.00, 115.00, 120.00

Nearest support levels: 107.00, 106.00, 105.40, 104.70, 104.00, 103.70

The price of AUD/USD is consolidating near level of 0.8800 for several weeks, indicating a lack of drivers to move in one direction or another. Prolonged consolidation may lead to a strong price movement. The growth potential looks weak. To continue the descending movement the price needs to fix below the local minimum near 0.8660. We maintain a medium-term negative outlook and recommend holding short positions.

Nearest resistance levels: 0.8800, 0.8900, 0.9000, 0.9100, 0.9130, 0.9200

Nearest support levels: 0.8660, 0.8600, 0.8550, 0.8500

The price of NZD/USD after rebound from the level of 0.7800 continues to rise and now has reached the strong level of 0.7900. Overcoming of this level will be a reason for further growth, and return of the price within the limits of the ascending channel will lead to increase of price to the level of 0.8085. We maintain a medium-term negative outlook and we consider that the potential for further growth is minimal.

Nearest resistance levels: 0.7900, 0.8000, 0.8050, 0.8270, 0.8350

Nearest support levels: 0.7800, 0.7740, 0.7700, 0.7500

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