29.09.2014 - Technical view
The price of EUR/USD managed to break through the level of 1.2700 after the second attempt. Downtrend remains fairly stable and at the moment we see no reason for the change of the negative dynamics of the euro. In connection with fixing prices below 1.2700, we expect further decline to 1.2500. In case of correction, the price can rise to the inclined line of resistance and the level of 1.2825. Our medium-term outlook remains negative.
Nearest resistance levels: 1.2700, 1.2825, 1.3000, 1.3100, 1.3160, 1.3200, 1.3240
Nearest support levels: 1.2660, 1.2500, 1.2450, 1.2200
The price of GBP/USD has broken through the support level of 1.6300, above which it was consolidated for some time. In the near future the price will fall to 1.6200. The potential for further reduction is limited and we expect the resumption of growth in the medium term. Signal for opening long positions will be fixing the price above 1.6400. We maintain our positive outlook for the medium-term, but recommend to wait for a signal to open positions.
Nearest resistance levels: 1.6300, 1.6400, 1.6450, 1.6535, 1.6600, 1.6670
Nearest support levels: 1.6200, 1.6050, 1.6000
The price of USD/JPY rebounded from the strong level of 108.50 and SMA50. Currently quotes are about six-year low and will soon reach the psychologically important level of 110.00. Despite the strong price growth in recent years, the potential for upward movement has not been exhausted, and we expect a further increase in prices after the consolidation above 110.00. We maintain our positive outlook for the medium-term and recommend holding long positions.
Nearest resistance levels: 110.00, 111.00, 115.00, 120.00
Nearest support levels: 108.50, 107.00, 106.00, 105.40, 104.70, 104.00, 103.70
The price of AUD/USD continues to fall along the upper boundary of the descending channel and after fixing the prices below 0.8800 accelerated its decline. At the moment, the price has reached the level of 0.8700, and considering a strong impetus will continue its movement. Correction is limited by the limits of the channel and the resistance level 0.8800. We recommend holding short positions and maintain a medium-term negative outlook for the Australian dollar.
Nearest resistance levels: 0.8800, 0.8900, 0.9000, 0.9100, 0.9130, 0.9200, 0.9240, 0.9330
Nearest support levels: 0.8700, 0.8660
The price of NZD/USD sharply accelerated the decline after breaking the oblique support level. Thus, the price has almost reached the level of 0.7700, but failed to break it and corrected upwards. The price growth is limited by the sloping inclined level. We expect a fall from 0.7700 and immediate goals 0.7500 and recommend holding short positions with a stop above 0.7950.
Nearest resistance levels: 0.7820, 0.7900, 0.8000, 0.8050, 0.8270, 0.8350, 0.8400
Nearest support levels: 0.7700, 0.7500