28.11.2014 - Technical view

The price of EUR/USD failed to gain a foothold above the level of 1.2500 and resumed the downward movement. The price also could not stay inside the rising channel. According to our estimates, the price in the near future will continue to decline with the objectives of 1.2400, 1.2360. We recommend holding short positions with a stop above 1.2600 and maintain a medium-term negative outlook with the targets near 1.2200 and 1.2000.

Nearest resistance levels: 1.2560, 1.2600, 1.2700, 1.2825, 1.2925, 1.3000, 1.3160

Nearest support levels: 1.2400, 1.2360, 1.2200, 1.2000

The price of GBP/USD failed to gain a foothold above the level of 1.5735 and continues to decline. In the near future quotes will reach the level of the lower boundary of the local rising channel and the level of 1.5700, after which we expect a rebound of prices upwards. The next upside target level in the case of short-term growth will be 1.5800. We expect continued upward movement in the coming days, but note that the medium-term trend remains negative.

Nearest resistance levels: 1.5800, 1.5960, 1.6000, 1.6200, 1.6300, 1.6400, 1.6450

Nearest support levels: 1.5735, 1.5600, 1.5500

The price of USD/JPY rebounded from the bottom of the rising channel and continued the growth within its boundaries. In case of breaking through the lower boundary of the channel, the price may fall to 116.00 and 115.00. We expect upward price movement in the near future with a target at 120.00 and recommend holding long positions with a stop below 115.00. Our medium-term outlook remains positive.

Nearest resistance levels: 120.00, 122.00, 125.00

Nearest support levels: 115.00, 114.00, 113.00, 112.00, 110.00, 108.50, 107.60, 107.00

The price of AUD/USD after reaching the level of 0.8600, started to decline and approached the level of the nearest local minimum near 0.8500. According to our estimates, the price is likely to overcome this level in the near future and will continue to fall within the local descending channel. We recommend holding short positions and maintain a medium-term negative outlook with the closest objectives at 0.8360 and 0.8200.

Nearest resistance levels: 0.8550, 0.8700, 0.8800, 0.8900, 0.9000, 0.9100, 0.9130, 0.9200

Nearest support levels: 0.8500, 0.8360, 0.8200

The price of NZD/USD after reaching resistance level at 0.7910 started to correct and dropped to the upper limit of the local descending channel. In case of continued downward movement, the price will reach 0.7780. We expect a further drop in prices in the near future and recommend holding short positions. We also maintain a medium-term negative outlook on the New Zealand dollar.

Nearest resistance levels: 0.7800, 0.7900, 0.8000, 0.8050, 0.8270, 0.8350

Nearest support levels: 0.7740, 0.7660, 0.7500, 0.7300

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