26.09.2014 - Technical view

The price of EUR/USD reached another important level of 1.2700 and rebounded of it. Currently quotations are consolidating near the level of 1.2750 and will most likely resume their downward movement in the near future. In case of continued upward correction quotations can grow up to 1.2825. We recommend holding short positions and maintain a medium-term negative outlook with the objectives of 1.2500 and 1.2200.

Nearest resistance levels: 1.2825, 1.3000, 1.3100, 1.3160, 1.3200, 1.3240, 1.3300, 1.3350

Nearest support levels: 1.2700, 1.2660, 1.2500, 1.2200

The price of GBP/USD shows low volatility. Thus the quotes continue to consolidate above 1.6300. The breaking of this level will lead to a drop in price to 1.6200. Considering the decrease in the amplitude of oscillations, we expect strong price movement in the near future. We expect continued upward movement and maintain a positive outlook for the medium-term with the objectives of 1.6670 and 1.6900.

Nearest resistance levels: 1.6400, 1.6450, 1.6535, 1.6600, 1.6670

Nearest support levels: 1.6300, 1.6250, 1.6200, 1.6050, 1.6000

The price of USD/JPY corrected yesterday to a strong level of 108.50, but could not break through it and now is gradually increasing. In case of continued growth, the price will reach an important level of 110.00. Fall is limited by the levels 108.50, 107.00, and the inclined line of support. We recommend holding long positions with a stop below 107.00 and maintain a medium-term positive outlook.

Nearest resistance levels: 110.00, 111.00, 115.00, 120.00

Nearest support levels: 108.50, 107.00, 106.00, 105.40, 104.70, 104.00, 103.70

The price of AUD/USD has broken through and fixed below the next target 0.8800. At the moment, the price continues to decline within the descending channel and in the near future is likely to reach the level of 0.8700. In case of breaking the upper limit of the channel the signal to closing of short positions and revision of the forecast will be fixing the price above 0.8900. We recommend holding short positions and maintain a medium-term negative outlook for the Australian dollar.

Nearest resistance levels: 0.8800, 0.8900, 0.9000, 0.9100, 0.9130, 0.9200, 0.9240, 0.9330

Nearest support levels: 0.8750, 0.8700, 0.8660

The price of NZD/USD after overcoming the level of 0.8000 slowed the fall only near the mark of 0.7900 and now is trying to break through this level. Downward momentum is strong enough, which gives reason to expect the price decline to the level of 0.7700. In case of correction, quotations may rise to 0.8000 and 0.8050. We maintain a medium-term negative outlook and recommend holding short positions.

Nearest resistance levels: 0.7900, 0.8000, 0.8050, 0.8270, 0.8350, 0.8400, 0.8425, 0.8470

Nearest support levels: 0.7820, 0.7700

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.