28.05.2014 - Technical view

The price of EUR/USD decreased and reached the nearest local minimum near 1.3615, but it rebounded from it upwards. If the price will fix above 1.3670 will be completed the formation of reversal pattern "double bottom". In case of further decline, a signal to buy will be price fixing below 1,3600. We expect continued descending movement and keep the medium-term and long-term negative outlook for the euro.

Nearest resistance levels: 1.3650, 1.3700, 1.3750, 1.3790, 1.3850, 1.3900, 1.3955, 1.4000

Nearest support levels: 1.3600, 1.3540

The price of GBP/USD declined sharply within the local descending channel and rebounded from its lower border. Further growth is limited by a strong resistance level at 1.6840 and the upper boundary of the channel. In case of resumption of growth, the closest target will be the level 1.6900. Fall is limited by the support at 1.6770. We maintain a long-term positive outlook.

Nearest resistance levels: 1.6840, 1.6900, 1.7000

Nearest support levels: 1.6770, 1.6700, 1.6560

The price of USD/JPY continues to consolidate near the strong level of 102.00. For continued growth, the price needs to gain a foothold above this mark. In such case the targets will be the levels of 102.70 and 104.00. Fall is limited by the level of support at 101.40. We maintain our medium and long-term positive outlook for the pair.

Nearest resistance levels: 102.00, 102.70, 103.00, 104.00, 104.70

Nearest support levels: 101.40, 100.90

The price of AUD/USD continues to consolidate in the corridor 0,9220-0,9280. Growth is limited by the resistance levels at 0.9300 and 0.9320. In the case of decrease, a signal to sell will be fixing the price below the nearest local minimum of about 0.9220. We maintain a medium-term negative outlook for the Australian dollar.

Nearest resistance levels: 0.9280, 0.9300, 0.9460

Nearest support levels: 0.9220, 0.9200, 0.9100

The price of NZD/USD continues to consolidate above the strong level 0.8520 and moves along the inclined resistance line. For the continuation of descending movement, the price needs to fix below 0.8520. Growth is limited by the resistance at 0.8600. We expect further reduction of price and keep a medium-term and long-term negative outlook.

Nearest resistance levels: 0.8600, 0.8690, 0.8700, 0.8740, 0.8780

Nearest support levels: 0.8520, 0.8450, 0.8420

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.