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05.05.2016 - Technical view

Currencies trading and euro. The price of EUR/USD continues to consolidate near the level of 1.1500 and in case of renewed growth can repeatedly test the resistance at 1.1620. A signal to sell will be breaking through the inclined support line and in this case, the closest target levels will be 1.1400 and 1.1200. Our medium-term outlook remains negative, but we do not exclude the growth in the near future.

Nearest resistance levels: 1.1500, 1,1620, 1,1750

Nearest support levels: 1.1400, 1.1200, 1.1050, 1.0985, 1.0900, 1.0800, 1.0700

Currencies trading and British pound. The price of GBP/USD is consolidating around the level of 1.4500 and fixing the price below this level will be a signal to sell with targets at 1.4400, 1.4180 and 1.4050. We can also see continued growth to 1.4670, but overcoming of this mark is unlikely in the near future. Our forecast for the coming months is negative.

Nearest resistance levels: 1.4670, 1.4850, 1,5000, 1,5150

Nearest support levels: 1.4500, 1.4400, 1.4050, 1.3840, 1.3600, 1,3500

Currencies trading and Japanese yen. The price of USD/JPY after the recent rebound from the level of 105.50, broke the important level 106.60. In order to continue the positive dynamics of price, quotations need to overcome the level of 108.00. In this case, the target levels will be 109.75, 111.00 and 112.15. The fall in the near future is limited by the levels 105,00-105,50. Our medium-term outlook remains positive.

Nearest resistance levels: 108,00, 109,75, 111,00, 112,15, 113.00, 114.70, 116.00

Nearest support levels: 106,60, 105,00, 103,40, 100,00

Currencies trading and Australian dollar. The price of AUD/USD rebounded from the bottom of the local descending channel and returned to the level of 0.7500. In case of continued rising dynamics of price quotations may reach the level of 0.7575 and the upper boundary of the channel. Despite the possibility of continuing the current correction, we maintain a medium-term negative outlook with targets at 0.7400 and 0.7240.

Nearest resistance levels: 0.7575, 0.7700, 0,7800, 0,6000

Nearest support levels: 0.7400, 0.7350, 0.7240, 0.7120, 0.7000, 0.6840

Currencies trading and New Zealand dollar. The price of NZD/USD has broken through the support level at 0.6940 and continued to decline during which is likely to reach the inclined support line and level of 0.6760. In case of renewed rising dynamics, prices may return to the strong resistance at 0.7050. Our medium-term outlook remains negative.

Nearest resistance levels: 0,6940, 0.7050, 0.7200, 0.7400

Nearest support levels: 0,6760, 0.6600, 0.6560, 0.6450, 0.6400, 0.6320, 0.6250

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The CIF license of PFX Financial Professionals Ltd has been suspended by the Cyprus Securities and Exchange Commission until the 24th of December 2016. Please click here