07.07.2016 - Technical view

Currencies trading and euro. The price of EUR/USD rebounded from an important support level at 1.1050 and within the correction reached lower border of the local ascending channel. In case of continued growth quotations will reach resistance at 1.1200. On the other hand fixing beyond the rising channel will be the basis for the continuation of the negative dynamics of price to 1.0985 and 1.0850. Our medium-term outlook remains negative and we expect the resumption of the fall in the near future.

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

Nearest support levels: 1,1050, 1,0985, 1,0850, 1,0800, 1,0700, 1,0550, 1,0500

Currencies trading and British pound. The price of GBP/USD has corrected upwards and reached the psychologically important level of 1.3000. In case of overcoming of this mark, quotations will continue to rise to 1.3225 and 1.3500. According to our estimates, after completion of the current correction, the decline will resume with potential targets at 1.2800 and 1.2600. Our medium-term outlook remains negative.

Nearest resistance levels: 1,3000, 1,3225, 1,3350, 1.3600, 1.3840, 1.4040, 1.4500, 1.4670

Nearest support levels: 1,2800, 1,2600, 1,2500, 1,2200, 1,2000

Currencies trading and Japanese yen. The price of USD/JPY has resumed after a slight fall the rebound and in the near future there is a high probability of reaching the level of 100.00. In case of breaking through the upper boundary of the descending channel and the level of 101.40, we expect a continuation of the rising dynamics of price with potential targets at 103.50 and 106.40. Our medium-term outlook remains positive, and the potential of the current fall considerably reduced.

Nearest resistance levels: 101,40, 103,50, 105,00, 106,40, 108,00, 109,75, 111,00, 112,15

Nearest support levels: 100,00, 99,00, 98,60

Currencies trading and Australian dollar. The price of AUD/USD after the rebound from the support level at 0.7400 has reached the lower boundary of the local rising channel and in the near future may continue to rise to 0.7575 and 0.7700. According to our estimates more likely will be the resumption of the negative dynamics in the near future with the first targets at 0.7400 and 0.7320. Our medium-term outlook remains pessimistic.

Nearest resistance levels: 0,7575, 0,7700, 0,7800, 0,8000

Nearest support levels: 0,7500, 0,7400, 0,7320, 0,7250, 0,7120, 0,7000, 0,6840

Currencies trading and New Zealand dollar. The price of NZD/USD after the recent decline began to demonstrate a correction within which can reach the level of 0.7200. The growth in the near future will be short-term and we expect the resumption of the negative dynamics of price with closest targets at 0.7050 and 0.6970. We also expect a fall of price in the medium term.

Nearest resistance levels: 0,7250, 0,7400, 0,7500

Nearest support levels: 0,7130, 0,7050, 0,6940, 0,6820, 0,6720, 0,6575, 0,6450, 0,6400

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.