29.08.2014 - Technical view

The price of EUR/USD returned to the framework of the local of the descending channel after a failed attempt to gain a foothold above the important level of 1.3200. In the case of resumption of upward movement, the price can reach the level of 1.3240 and 1.3350. We expect a continuation of downward price movement and save the medium-term negative outlook for the euro with the target level near 1.2800.

Nearest resistance levels: 1.3200, 1.3240, 1.3300, 1.3350, 1.3440, 1.3500, 1.3530

Nearest support levels: 1.3160, 1.3100, 1.3000, 1.2800

The price of GBP/USD has broken through the upper limit of the downward channel, but continued to grow and keeps consolidating below 1.6600. Given the lack of power of bears, we expect soon start of growth of quotations. Signal for opening long positions will be fixing the price above 1.6600. Downside potential is limited and we expect growth of price of the pound soon and maintain a medium-term positive outlook.

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 has broken through inclined level of support and is consolidating within a narrow corridor 103,70-104,00. A signal to sell with the target 102.20, will be price fixing below 103.70. Long positions should be opened after fixing the price above 104.00. We maintain our positive outlook for the medium-term with the objectives of 104.70 and 105.40, but admit the possibility of a sharp decline in prices in the near future.

Nearest resistance levels: 104.00, 104.70, 105.40

Nearest support levels: 103.70, 103.00, 102.70, 102.20, 101.70, 101.15, 100.90

The price of AUD/USD stopped the growth, but keeps consolidating above 0.9340. In case of further correction the price can fall to the important level 0.9330. In the short term, the price will likely continue to grow to the target level 0.9440, but our medium-term outlook remains negative with the target near 0.8900.

Nearest resistance levels: 0.9440, 0.9500, 0.9600

Nearest support levels: 0.9330, 0.9280, 0.9240, 0.9200, 0.9100

The price of NZD/USD began to decline again after it failed to break the level of 0.8400. Fall in the price level is limited by the nearest local minimum around 0.8330. Long positions should be opened in case of breaking and fixing above the level 0.8425. We expect that in the medium term, the price of New Zealand dollar will move within the corridor 0,8300-0,8500.

Nearest resistance levels: 0.8425, 0.8470, 0.8530, 0.8560, 0.8600, 0.8660, 0.8720

Nearest support levels: 0.8330, 0.8300, 0.8220

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