30.01.2015 - Technical view

The price of EUR/USD continues to consolidate below 1.1400 and is likely to continue the reduction of price in the descending channel. In case of breaking through the upper boundary of the channel, a signal of trend reversal will become the price fixing above 0.1620. Today is expected the increase in volatility and according to our forecasts the price will continue to fall with the target at 1.1000. We maintain our medium-term negative outlook and recommend holding short positions.

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 corrected to a strong support level at 1.5050, after two unsuccessful attempts to overcome the resistance level at 1.5200. At the moment, quotes returned to the descending channel and are near its upper boundary. In case of overcoming support at 1.5050, the price will continue to decline to a local minimum. A signal to buy will become fixing above 1.5200. We maintain a negative medium-term outlook, but assume short-term growth in the near future.

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 within the corridor 117,40-119,00. Recently, the price could not overcome the level of 118.50, and started to decline. It is worth noting the reduction of the amplitude of price fluctuations that in the near future should lead to a strong price movement. A signal to buy will become consolidation above 119.00. Short positions should be opened after fixation below 117.40. We maintain our positive outlook for the medium-term, but do not exclude the fall in the short term.

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 is adjusted up after a sharp decline. Quotes of the Australian dollar started to decline after reaching the psychologically important level of 0.8000. As a result of the decline, the price has overcome the local minimum at 0.7860 and almost reached 0.7700. Growth is limited by the upper boundary of the channel and the level of 0.7860. Our medium-term outlook remains negative and we continue to recommend holding short positions with a stop above 0.8040.

Nearest resistance levels: 0.7860, 0.8000, 0.8040, 0.8200, 0.8250, 0.8360, 0.8550, 0.8700

Nearest support levels: 0.7600, 0.7500

The price of NZD/USD after a sharp decline and reaching the level of 0.7250, has started to grow and at the moment is located near the level of 0.7300. In case of upward correction, quotations may return to the level of 0.7400, which previously served as a support level. We forecast that the fall of quotations will continue in the medium term. We recommend holding short positions with the first target at 0.7000 and stop above 0.7500.

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

Nearest support levels: 0.7300, 0.7250, 0.7000

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