06.08.2014 - Technical view

The price of EUR/USD after a long consolidation above 1.3420, dropped sharply and reached the nearest local minimum. At the moment there is a high probability of continuing the downward movement with the closest target near 1.3300. Correction is possible to 1,3440. We maintain a medium-term negative outlook with targets near 1.3200 and 1.2800.

Nearest resistance levels: 1.3440, 1.3500, 1.3530, 1.3590, 1.3665, 1.3700

Nearest support levels: 1.3300, 1.3200, 1.3160, 1.3000, 1.2800

The price of GBP/USD has reached the upper limit of the local downward channel and is consolidating around it. In case of resumption of upward movement, the closest target level is 1.6810, which coincides with the local minimum. To continue to grow with the objectives of 1.7000 and 1.7200, the price needs to consolidate above 1.6900. We maintain our positive outlook for the medium-term with objectives of 1.7200 and 1.7300.

Nearest resistance levels: 1.6900, 1.7000, 1.7050, 1.7100, 1.7180, 1.7200, 1.7300

Nearest support levels: 1.6810, 1.6770

The price of USD/JPY after an unsuccessful attempt to gain a foothold above 102.70, has returned to yesterday's levels and continues to consolidate in this area. Price reduction is limited by the inclined line of support and the level of 102.20. In case of growth, a buy signal will be fixing the price above 102.70 and overcoming the nearest local maximum near 103.00. We maintain our positive outlook for the medium-term with the objectives of 104.00 and 104.70.

Nearest resistance levels: 102.70, 103.00, 104.00, 104.70

Nearest support levels: 102.20, 101.90, 101.15, 100.90, 100.00

The price of AUD/USD has failed to gain a foothold above the mark of 0.9330 and resumed a downward movement along the upper boundary of the descending channel. We predict that in the near future, the price will reach 0.9280, after fixing below which may continue the downward movement with the goals of 0.9200 and 0.8900. Growth is limited by the level of 0.9340. We maintain a medium-term negative outlook.

Nearest resistance levels: 0.9330, 0.9440, 0.9500, 0.9600

Nearest support levels: 0.9280, 0.9220, 0.9200, 0.9100

The price of NZD/USD after a long consolidation began to decline sharply and has broken through the support level, which coincides with the local minimum near 0.8470. In case of continuing the current motion, we expect the quotations to reach the mark of 0.8400. As part of the correction, the price can rise to 0.8470. According to our estimates, in the near future, falling of the price will continue.

Nearest resistance levels: 0.8470, 0.8560, 0.8600, 0.8660, 0.8720, 0.8780, 0.8800

Nearest support levels: 0.8400, 0.8300

RISK WARNING: Trading of complex financial products, such as Stocks, Futures, Foreign Exchange ("Forex"), Contracts for Difference ("CFDs"), Indices, Options, or other financial derivatives, on "margin" carries a high level of risk, and may not be suitable for all investors. The possibility exists that you could sustain a loss of some or all of your initial investment and, therefore, you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading these markets, and seek advice from an independent financial advisor if you have any questions or doubts. Please carefully read our full "Risk Disclosure" and "Risk Disclosures for Financial Instruments & Investment Services". FXFINPRO Capital is the trading name of PFX Financial Professionals Limited, a limited liability company formed under the laws of Cyprus, registered with the Registrar of Companies in Nicosia, Cyprus, under nr. HE 237840 and regulated by the Cyprus Securities and Exchange Commission with license number 193/13.