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29.07.2014 - Technical view

The price of EUR/USD is consolidating near the level of 1.3430 and is approaching the sloping resistance line. At this point there is a possibility of acceleration of the downward price movement, but in case of breaking through resistance, we can see an increase up to 1.3480 and 1.3530. We maintain our negative medium-term outlook with targets at 1.3400 and 1.3200.

Nearest resistance levels: 1.3500, 1.3530, 1.3590, 1.3665, 1.3700, 1.3750, 1.3790

Nearest support levels: 1.3400, 1.3200, 1.3160, 1.3000, 1.2800

The price of GBP/USD continues to consolidate in the corridor 1,6970-1,7000 after it rebounded from the bottom of the downward channel. Resumption of the upward movement is possible after breaking through the upper boundary of the channel and the level of overcoming 1.7050. Today we expect the low activity of traders, and tomorrow will probably see a strong increase in volatility. Medium-term outlook remains positive.

Nearest resistance levels: 1.7050, 1.7100, 1.7180, 1.7200, 1.7300

Nearest support levels: 1.6970, 1.6900, 1.6810, 1.6770

The price of USD/JPY fixed above the level of 101.70 and will likely continue the upward movement with the objectives of 102.20 and 102.70. Fall may resume after breaking the support at 101.70. We recommend holding long positions until reaching target levels with a stop below 101.60. We maintain our positive outlook for the medium-term.

Nearest resistance levels: 102.20, 102.70, 103.00, 104.00, 104.70

Nearest support levels: 101.70, 101.15, 100.90, 100.00

The price of AUD/USD tried within the correction to gain a foothold above 0.9400, but resumed the fall and will likely continue to decline to the strong support at 0.9330 after reaching of which can change the direction of the local trend. In the medium term, we expect a decrease in price and would recommend to open short positions with the aim of 0.9220, after fixing the price below 0.9330.

Nearest resistance levels: 0.9440, 0.9500, 0.9600

Nearest support levels: 0.9330, 0.9300, 0.9220, 0.9200

The price of NZD/USD fixed below the strong level of 0.8560 and continued downward movement. When saving the current dynamics, the price will probably reach the level of 0.8480 and 0.8400. After a significant decline in the near future we may see a correction with the target of about 0.8560. We recommend holding short-term short positions, but to determine the movement of the price in the medium term, we will need new signals.

Nearest resistance levels: 0.8560, 0.8600, 0.8660, 0.8720, 0.8780, 0.8800, 0.8850

Nearest support levels: 0.8480, 0.8400

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