12.04.2016 - Technical view

Currencies trading and euro. The price of EUR/USD is consolidating around the important level of 1.1400. Attempts to continue its growth are unsuccessful and quotes returned to this level. In a short time the price will reach the lower boundary of the rising channel and can rebound from it to 1.1500 and 1.1620. A more likely scenario is a break of this channel’s limit, after which the target levels will be 1.1050 and 1.0985. Our medium-term outlook remains negative.

Nearest resistance levels: 1.1400, 1.1450, 1.1500, 1,1620

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 continued to rise after broke the upper boundary of the local descending channel and overcome level of 1.4180. In case of continued rising dynamics, quotations reached the levels 1,4350-1,4400. Despite current growth, which may continue in the near future, we expect a continuation of the negative dynamics in the coming months.

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

Nearest support levels: 1.4180, 1.4050, 1.3840, 1.3600, 1.3500

Currencies trading and Japanese yen. The price of USD/JPY stabilized around the level of 108.00 and currently is near the upper boundary of the local descending channel and fixation above it will be the basis for continued growth. Confirmation of the signal to buy will be price fixing above the level of 109.00. In this case, the closest target levels will be 111.00 and 112.15. Despite the possibility of the continuation of the negative dynamics to 106.60 and 105.00, we maintain a medium-term positive outlook.

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

Nearest support levels: 108.00, 106,60, 105.00, 103.00

Currencies trading and Australian dollar. The price of AUD/USD continues to grow, and after overcoming the inclined line of resistance may continue to rise to 0.7700. In order to overcome this level will be needed a strong incentive. According to our estimates, in the near future the negative dynamics will resume and we expect a price drop to 0.7400 and 0.7240.

Nearest resistance levels: 0.7700, 0,7800, 0,6000

Nearest support levels: 0.7575, 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 after reaching the resistance level at 0.6875, is trying to continue its upward movement of price to the local maximum at 0.6960 and the psychologically important mark at 0.7000. In order to overcome these resistance levels, will be needed a strong incentive. We maintain our medium-term negative outlook and expect fixing below inclined support line that will be a signal to sell.

Nearest resistance levels: 0.6900, 0.7000

Nearest support levels: 0.6875, 0.6600, 0,6560, 0.6450, 0.6400, 0.6320, 0.6250, 0.6200

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.