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05.10.2015 - Technical view

Currencies trading and euro. The price of EUR/USD showed a sharp rise on Friday and reached a sloping line of resistance and the mark of 1.1300, but was unable to maintain the ascending impulse and corrected down to 1.1200. According to our estimates, quotes will continue to consolidate between the lower boundary of the rising channel and sloping resistance line soon. The medium-term outlook remains negative.

Nearest resistance levels: 1.1200, 1.1300, 1.1400, 1.1450, 1.1500, 1.1620, 1.1700

Nearest support levels: 1.1100, 1.1000, 1.0850, 1.0800, 1.0700, 1.0550

Currencies trading and British pound. The price of GBP/USD keeps consolidating around the level of 1.5200 after the strong growth of volatility at the end of last week. In case of resumption of growth, quotations may reach the important resistance level at 1.5350. On the other hand, there is probability of continuation of the negative dynamics of quotations and reaching the target level of 1.5000. Today, we are likely to see continued consolidation around current levels, but the medium-term outlook is negative.

Nearest resistance levels: 1.5350, 1.5460, 1.5675, 1.5700, 1.5800, 1.5900

Nearest support levels: 1.5200, 1.5000, 1.4700

GBP and USD Technincal Outlook

Currencies trading and Japanese yen. The price of USD/JPY on Friday has broken through the strong sloping support line, but could not continue to fall and returned to previous levels. Currently quotations continue to consolidate near the level of 120.00. Fixing the price above 121.50 will be a signal for opening long positions with the targets at 123.00 and 124.50. Within the fall, quotes can decrease to the level of support at 119.00 and 118.00. We expect further price movement around the current levels in the coming days, but the medium-term outlook remains positive.

Nearest resistance levels: 121.50, 123.00, 124.50, 125.00, 125.70, 128.00, 130.00

Nearest support levels: 119.00, 118.50, 118.00, 117.00

Currencies trading and Australian dollar. The price of AUD/USD following some consolidation above the level of 0.7000, has broken through the upper limit of the downward channel and reached the resistance level at 0.7080, the overcoming of which will lead to the continuation of the upward movement of quotations to 0,7200-0,7260. On the other hand, the decline may be resumed till the nearest targets at 0,6900-0,6950. Tomorrow is predicted a strong price movement of the Australian dollar. Our medium-term outlook remains negative, but we do not rule out short-term growth in the near future.

Nearest resistance levels: 0.7200, 0.7260, 0.7400, 0.7500, 0.7600, 0.7700, 0.7800

Nearest support levels: 0.7000, 0.6900, 0.6750, 0.6600, 0.6500

Currencies trading and New Zealand dollar. The price of NZD/USD after fixing above the level of 0.6400, continued growth during which has broken through the resistance level at 0.6450. This fact is the reason for the continuation of the upward price movement to the level of 0.6600. It is worth noting that after the strong growth, there is a possibility of a downward price correction in the near future. Our medium-term outlook remains negative.

Nearest resistance levels: 0.6600, 0.6700, 0.6800, 0.6850, 0.7000

Nearest support levels: 0.6450, 0.6400, 0.6320, 0.6250, 0.6200, 0.6000

NZD Index Chart

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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