29.06.2015 - Technical view

Currencies trading and euro. The price of EUR/USD after a long consolidation near the level of 1.1200, started the trading week with gap down. Currently quotes are consolidated around the level of 1.1000 and in case of overcoming this psychologically important mark will continue to decrease to the next targets at 1.0900 and 1.0700. Within the correction quotes can return to the level of 1.1200. We maintain a medium-term negative outlook and forecast decline of the price in the near future.

Nearest resistance levels: 1.1080, 1.1150, 1.1200, 1.1400, 1.1450, 1.1500, 1.1620

Nearest support levels: 1.1000, 1.0900, 1.0800, 1.0550

Currencies trading and British pound. The price of GBP/USD keeps consolidating near the level of 1.5700, and breaking through this level will confirm the signal for the opening short positions with the targets at 1.5500 and 1.5350. Within the correction, quotations may rise to the level of 1.5800. We maintain a medium-term negative outlook and recommend to wait for the signal for opening position.

Nearest resistance levels: 1.5800, 1.5900, 1.6000

Nearest support levels: 1.5700, 1.5500, 1.5400, 1.5350, 1.5200, 1.5000, 1.4700

Currencies trading and Japanese yen. The price of USD/JPY declined sharply and reached the strong support level at 122.50, but could not break through it. In case of further price reduction, quotes will drop to 121.50 and 120.20. At the moment, there is a possibility of the rising price rebound from a strong support level at 122.50 and within the growth the price may reach the levels 124,00-124,25. We keep medium-term positive outlook, but soon may see a further fall in prices.

Nearest resistance levels: 123.75, 124.25, 125.00, 125.70, 128.00, 130.00

Nearest support levels: 122.50, 121.50, 120.20, 119.00, 118.50, 117.40

Currencies trading and Australian dollar. The price of AUD/USD declined sharply and reached the target level at 0.7600, but was unable to continue reduction and rebounded from this level of support. Currently quotes are consolidated near the lower boundary of a local downtrend channel and can continue the current momentum only in case of overcoming the strong support at 0.7600. We keep a medium-term negative outlook with the targets at 0.7500 and 0.7200.

Nearest resistance levels: 0.7700, 0.7800, 0.7840, 0.7900, 0.8000, 0.8200, 0.8250, 0.8500

Nearest support levels: 0.7600, 0.7550, 0.7500, 0.7200

Currencies trading and New Zealand dollar. The price of NZD/USD continued to decline within the descending channel and has overcome the level of 0.6850. Currently quotes are located near a local minimum, and its overcoming will be the basis for the continuation of the downward movement of price to the target level at 0.6600. Our medium-term outlook remains negative and we recommend holding short positions with a stop above 0.7000.

Nearest resistance levels: 0.6850, 0.7000, 0.7080, 0.7200, 0.7260, 0.7300, 0.7400, 0.7430

Nearest support levels: 0.6700, 0.6600

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.