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21.12.2015 - Technical view

Currencies trading and euro. The price of EUR/USD rebounded upwards after reaching the important level of support at 1.0800 in case of a further correction will continue to grow to 1,0900-1,0930. The resumption of the fall of quotations and the fixation below the level of 1.0800, will be a reason to continue decline to 1.0700 and 1.0500. We expect continuation of reduction of prices in the coming weeks and maintain the medium-term negative outlook.

Nearest resistance levels: 1.0930, 1.1050, 1.1080, 1.1200, 1.1350, 1.1450

Nearest support levels: 1.0800, 1.0700, 1.0550, 1.0500, 1.0450, 1.0200

Currencies trading and British pound. The price of GBP/USD has stabilized near the local minimum at 1.4900 and can start to correct upwards and return to the level of 1,5000-1,5050. On the other hand, fixing the price below the psychologically important level of 1.5000, is the basis for continued growth of price to the levels 1.4800 and 1.4600. Our medium-term outlook remains negative, but at the moment there is a probability of a minor price correction.

Nearest resistance levels: 1.5000, 1.5200, 1.5250, 1.5300, 1.5500, 1.5675, 1.5700, 1.5800

Nearest support levels: 1.4800, 1.4700, 1.4600

Currencies trading and Japanese yen. The price of USD/JPY decline slowed after a sharp drop at the end of the week. At the moment the price is consolidating above the levels of 121.00 and within the further decline may reach 120.50. We expect the resumption of growth of quotations in the near future and maintain the medium-term positive outlook with the first targets at 122.30, 123.60 and 124.50.

Nearest resistance levels: 121.50, 122.30, 123.60, 124.50, 125.00, 125.70, 128.00, 130.00

Nearest support levels: 120.50, 119.00, 118.50, 118.00, 117.00

Currencies trading and Australian dollar. The price of AUD/USD after the rebound from the level of 0.7100 and the bottom of the channel reached the level of 0.7200, but could not overcome it. Continued growth in the near future is limited by the upper boundary of the descending channel, a break of which will be the reason for the further price increase to 0,7300-0,7400. We expect a drop in prices in the medium term with its closest objectives at 0.7000 and 0.6900.

Nearest resistance levels: 0.7200, 0.7300, 0.7400, 0.7500, 0.7600, 0.7700, 0.7800

Nearest support levels: 0.7150, 0.7080, 0.7000, 0.6900, 0.6750, 0.6600

Currencies trading and New Zealand dollar. The price of NZD/USD after falling to the level of 0.6700, rebounded upwards, and may continue to rise to 0.6800 in the near future. Overcoming this level will be the basis for further increase of price up to 0,6900-0,7000. On the other hand more likely is a breaking and fixing quotations below the level of 0.6700 and the lower boundary of the rising channel that will be a signal to sell with the targets at 0.6450 and 0.6250.

Nearest resistance levels: 0.6800, 0.6900, 0.7000, 0.7200

Nearest support levels: 0.6700, 0.6600, 0.6500, 0.6450, 0.6400, 0.6320, 0.6250

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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