29.01.2015 - ​Technical view

The price of EUR/USD after some consolidation below 1.1400, resumed its decline and has broken through the local support line. According to our forecasts, the price will continue to fall in the near future in the descending channel with the target at 1.1000. Growth is limited by the level of 1.1400 and the upper boundary of the channel. We maintain our medium-term negative outlook and recommend holding short positions with a stop at 0.1620.

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

The price of GBP/USD resumed its decline after two unsuccessful attempts to overcome the resistance at 1.5200. To continue the growth the price must be fixed above 1.5200. At the moment there is a high probability of continuing of falling the price with the first objectives at 1.5050 and 1.5000. We maintain our medium-term negative for the British pound and recommend to wait for a confirmation of the signal for opening positions.

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 continues to consolidate in the corridor 117,40-119,00. The amplitude of the fluctuations of the price decreases and in case of breaking through the lower boundary of the corridor and consolidation below this mark, we recommend to open short positions with the first target at 116.00 and potential falling to 114.00. Growth is limited by the level of 119.00. Our medium-term outlook remains positive, but we assume the drop in prices in the near future.

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 after reaching a critical level of 0.8000, started to correct and has fallen sharply to the level of a local minimum at 0.7860. In case of overcoming this mark, we expect a price drop to 0.7600 and 0.7500. Growth is limited by a strong resistance level at 0.8000. We recommend holding short positions with a stop above 0.8085 and maintain a medium-term negative outlook.

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 a long consolidation started to decline sharply and has broken through a local minimum at 0.7400. At the moment, quotes stabilized below 0.7350 and is likely to continue to fall to 0.7200. Growth is limited by the resistance at 0.7400. We continue to recommend holding short positions and maintain a medium-term negative outlook for the New Zealand dollar.

Nearest resistance levels: 0.7400, 0.7500, 0.7620, 0.7700, 0.7800, 0.7850, 0.7900, 0.8000

Nearest support levels: 0.7300, 0.7200, 0.7000

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