25.06.2014 - Technical view

The price of EUR/USD was not able to continue the growth and corrected to 1.3600. At the moment, the amplitude of oscillation of the euro price decreases and quotations are clamped between the oblique lines of support and resistance, after overcoming of which, we expect strong price movement. We expect the resumption of price reduction and save medium-term negative outlook.

Nearest resistance levels: 1.3665, 1.3700, 1.3750, 1.3790

Nearest support levels: 1.3590, 1.3530, 1.3500, 1.3400

The price of GBP/USD broke the lower boundary of the rising channel and a strong support level at 1.7000. In case of continued downward movement a signal to sell will be price fixing below 1.6950. In such case, the price may reach 1.6900 and 1.6810. For the resumption of growth, the price needs to overcome 1.7000. We are revising our outlook for the near future to negative, but we expect the resumption of growth in the medium term.

Nearest resistance levels: 1.7000, 1.7100, 1.7200

Nearest support levels: 1.6950, 1.6900, 1.6810, 1.6770, 1.6700, 1.6560

The price of USD/JPY tried to overcome the inclined resistance line, but could not do it and retreated to the level of 101.90. Considering long-term consolidation, we expect a strong price movement in the near future. The signal to buy will be fixing price above 102.20. A signal to sell - fixing the prices below the nearest local minimum at 101.80. According to our estimates, resumption of price growth in the near future is more probable.

Nearest resistance levels: 102.20, 102.70, 103.00, 104.00, 104.70

Nearest support levels: 101.80, 101.40, 100.90

The price of AUD/USD continued to decline and reached a sloping support line. It is recommended to open short positions after fixing the price below this level. In case of further fall, the price can reach the levels 0.9340, 0.9300 and 0.9220. Growth is limited by a strong level at 0.9440. In the medium term the price will probably continue to decline.

Nearest resistance levels: 0.9440, 0.9500, 0.9600

Nearest support levels: 0.9340, 0.9300, 0.9220, 0.9200, 0.9100

The price of NZD/USD broke the lower boundary of the local rising channel and the support level at 0.8690, below which is now trying to gain a foothold. On the chart was formed the figure - "double top", which indicates a trend reversal and is a signal to open short positions. We expect a decline of price of the New Zealand dollar with the objectives at 0.8600 and 0.8560.

Nearest resistance levels: 0.8690, 0.8700, 0.8740, 0.8780

Nearest support levels: 0.8600, 0.8560, 0.8480

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.