29.11.2014 - Technical view

The price of EUR/USD after reaching the lowest level since 2012, started the correction and now reached the level of 1.2200. According to our estimates, quotes will continue to move within the corridor 1,2165-1,2250 in the nearest future. Overcoming the level of 1.2165, will be a signal to continue the price reduction to 1.2000. We recommend holding short positions and maintain a medium-term negative outlook for the euro.

Nearest resistance levels: 1.2250, 1.2360, 1.2500, 1.2560, 1.2600, 1.2700, 1.2825, 1.2925

Nearest support levels: 1.2165, 1.2000

The price of GBP/USD after a long consolidation near the level of 1.5550, continued the growth and approached the level of 1.5600. In case of further growth, quotes will continue to increase with the objectives of 1,5750-1,5800. The fall is limited by the psychologically important mark on 1.5500. We expect growth in the near future, but to determine the mid-term direction of movement we need new signals.

Nearest resistance levels: 1.5750, 1.5800, 1.5960, 1.6000, 1.6200, 1.6300, 1.6400

Nearest support levels: 1.5550, 1.5500, 1.5300, 1.5000

GBP Technical Analysis

The price of USD/JPY continues to consolidate near the level of 120.00. In case of continuation of the current dynamics the price will reach 122.00. The fall is limited by a mark 119.00. We expect further growth of quotations and recommend holding long positions. In the near future the price volatility will be low. Our medium-term outlook also remains positive.

Nearest resistance levels: 122.00, 125.00

Nearest support levels: 120.00, 117.40, 115.00, 114.00, 113.00, 112.00, 110.00

Japanese Yen Technical Analysis

The price of AUD/USD has stopped the decline and is consolidating above 0.8100. It is worth noting that the quotes broke through the upper limit of the downward channel. In case of growth and overcoming the level of 0.8360, we recommend to fix short positions. Volatility during this week will be minimal. We recommend holding short positions and maintain a medium-term negative outlook.

Nearest resistance levels: 0.8200, 0.8360, 0.8550, 0.8700, 0.8800, 0.8900, 0.9000

Nearest support levels: 0.8000, 0.7600, 0.7500

The price of NZD/USD has broken the upper limit of the downward channel and continues to grow. In case of saving the current impulse, quotations may reach the level of 0.7825 and 0.7910. We recommend holding short positions with a stop above 0.7910 and target at 0.7500. The medium-term outlook remains negative.

Nearest resistance levels: 0.7780, 0.7825, 0.7900, 0.8000, 0.8050, 0.8270, 0.8350

Nearest support levels: 0.7660, 0.7500, 0.7300

NZD Technical Outlook

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