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06.04.2016 - Technical view

Currencies trading and euro. The price of EUR/USD continues to consolidate within a narrow corridor below the level of 1.1400. Its overcoming will be the basis for further growth of the price to 1.1500. On the other hand, there is the possibility of renewed negative dynamics of prices to the lower boundary of the rising channel and the support level at 1.1200. Our medium-term outlook remains negative and we expect a fall in the near future.

Nearest resistance levels: 1.1400, 1.1450, 1.1500

Nearest support levels: 1.1350, 1.1200, 1.1050, 1.0985, 1.0900, 1.0800, 1.0700, 1.0550

Currencies trading and British pound. The price of GBP/USD showed a decrease broke through its support at 1.4180. In case of continued negative dynamics quotes will decrease to 1.4050 and 1.3840. Growth of price in the near future is limited by the resistance level at 1.4400. We expect continued consolidation in the near future and then fall is likely to continue with a potential target at 1.3600. Our medium-term outlook remains negative.

Nearest resistance levels: 1.4180, 1.4400, 1.4500, 1.4640, 1.4700, 1.4800

Nearest support levels: 1.4050, 1.3840, 1.3600, 1.3500

Currencies trading and Japanese yen. The price of USD/JPY continued to decline and has broken through the important support level at 111.00. As a result, quotes reached the psychologically important level of 110.00 and its overcoming will be the basis for the continuation of the negative dynamics of price with the objectives at 108,00 and 105,00. In the near future we are likely to see an upward correction. Our medium-term outlook remains negative.

Nearest resistance levels: 110.60, 111.00, 112.15, 113.00, 114.70, 116.00, 118.80, 120.20

Nearest support levels: 108.00, 105.00, 103.00

Currencies trading and Australian dollar. The price of AUD/USD has broken through the important support level at 0.7575, and an angled support line. Currently quotes are trying to gain a foothold below this level and if successful, will continue the fall until 0.7400 and 0.7240. The growth in the near future is limited by a local maximum near 0.7700. Our medium-term outlook remains negative and we are waiting for price reduction in the near future.

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, 0.6800

Currencies trading and New Zealand dollar. The price of NZD/USD rebounded from an inclined support line in the near future can recover some of the previously lost positions. The nearest resistance levels are 0,6800-0,6820. According to our forecast, price will continue to fall in the near future and medium term with targets at 0.6600 and 0.6450 and the growth potential in the near future considerably reduced.

Nearest resistance levels: 0.6820, 0.6900, 0.7000

Nearest support levels: 0.6600, 0,6560, 0.6450, 0.6400, 0.6320, 0.6250, 0.6200

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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
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