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06.10.2016 - Technical view

Currencies trading and euro. The price of EUR/USD corrected down to the level of 1.1200 and during further reduction will return to the level of 1.1140. The growth in the near future is limited by the resistance level at 1.1260, fixing above which will be the basis for continued rising dynamics of price to 1,1350-1,1400. It should be noted that fixing below 1.1140 will be the signal for a further decline with the objectives at 1.1050, 1.0985 and 1.0850. Our medium-term outlook remains negative and we expect a price decline in the near future.

Nearest resistance levels: 1,1200, 1,1260, 1,1400, 1,1500, 1,1620, 1,1750

Nearest support levels: 1,1140, 1,1050, 1,0985, 1,0850, 1,0800, 1,0700, 1,0550

Currencies trading and British pound. The price of GBP/USD is consolidating above the level of 1.2700, after strongly decreased in the descending channel. In case of correction, quotations may return to the upper boundary of the channel. Overcoming the level of 1.2800 became the basis for the further decline with the potential targets at 1.2600 and 1.2200. Our medium-term outlook remains negative and we expect a decrease in the near future.

Nearest resistance levels: 1,2800, 1,3000, 1,3225, 1,3350, 1,3500, 1.3600, 1.3840, 1.4040

Nearest support levels: 1,2600, 1,2500, 1,2200, 1,2000

Currencies trading and Japanese yen. The price of USD/JPY has grown to the level of 103.50 and the upper boundary of the rising channel. Overcoming the resistance level at 103.50, will be the basis for continued growth of quotations to 105,00 and 106,40. Today we can see the rollback of price with the potential of reaching the lower boundary of the channel. Our medium-term outlook remains positive, and we expect continued growth after the downward correction.

Nearest resistance levels: 103,50, 105,00, 106,40, 108,00, 109,75, 111,00, 112,15

Nearest support levels: 101,40, 100,00, 99,00, 98,60, 97,00

Currencies trading and Australian dollar. The price of AUD/USD continues to consolidate above the level of 0.7600 and in case of breaking of this level, we recommend to open short positions with a stop above 0.7700 and targets at 0.7450, 0.7250 and 0.7000. On the other hand, we do not exclude the rebound of quotations from this level with the potential of reaching the levels 0,7700-0,7730. Our medium-term outlook remains negative and we expect a price decline in the near future.

Nearest resistance levels: 0,7600, 0,7700, 0,7800, 0,8000

Nearest support levels: 0,7500, 0,7450, 0,7320, 0,7250, 0,7120, 0,7000

Currencies trading and New Zealand dollar. The price of NZD/USD continues to decline gradually after has broken an important support level at 0.7200, fixing below which is the basis for opening short positions with potential targets at 0.6820, 0.6600 and 0.6450. Our medium-term outlook remains negative and we expect a price decline in the near future.

Nearest resistance levels: 0,7200, 0,7320, 0,7400, 0,7500

Nearest support levels: 0,7130, 0,7050, 0,6940, 0,6820, 0,6720, 0,6600, 0,6450

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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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