30.05.2016 - Technical view

Currencies trading and euro. The price of EUR/USD fixed below the important level of 1.1200 and after reaching the upper limit of the local downward channel, continued to fall within it. The closest targets within the further reduction of price will be 1.1050, 1.0985 and 1.0850. The rising correction of price is limited by the upper boundary of the downward channel. We forecast a drop in prices in the near future and maintain the medium-term negative outlook with targets at 1.0700 and 1.0550.

Nearest resistance levels: 1.1200, 1.1400, 1.1500, 1,1620, 1,1750

Nearest support levels: 1.1050, 1.0985, 1.0900, 1.0800, 1.0700

Currencies trading and British pound. The price of GBP/USD again failed to gain a foothold above the level of 1.4670 and started to decline inside the rising channel. In the near future quotations may return to the level of 1.4500, but the more likely scenario will be a resumption of positive dynamics with the growth potential up to 1.5000 and 1.5150. We expect preservation of high volatility in the near future, but the more likely will be continued growth of quotations.

Nearest resistance levels: 1.4670, 1.4850, 1,5000, 1,5150

Nearest support levels: 1.4500, 1.4400, 1.4040, 1.3840, 1.3600, 1,3500

Currencies trading and Japanese yen. The price of USD/JPY continued to rise after price fixing above the level of 109.75, and as a result reached an important level of 111.00. In case of continued rising dynamics, quotes will continue to rise to 112.15 and 104.70. The fall within the correction is limited by the levels of support at 109.75 and 108.00. Our medium-term outlook remains positive and the possibility of growth in the coming months has grown significantly.

Nearest resistance levels: 111,00, 112,15, 113.00, 114.70, 116.00

Nearest support levels: 109,75, 108,00, 106,60, 105,00, 103,40, 100,00

Currencies trading and Australian dollar. The price of AUD/USD has fixed below the important level of 0.7250 and is currently trying to update the local minimum, which will be the basis for the continuation of the negative dynamics with nearest objectives at 0.7000 and 0.6840. The signal of trend reversal to the negative will be price fixing above the level of 0.7250. Our medium-term outlook remains negative and we expect a fall in the near future.

Nearest resistance levels: 0.7250, 0.7400, 0,7500, 0.7575, 0.7700, 0,7800, 0,6000

Nearest support levels: 0.7120, 0.7000, 0.6840

Currencies trading and New Zealand dollar. The price of NZD/USD has fallen within the local descending channel to its lower limit. In case of correction, quotations will return to the important level of 0.6720, fixing below which will become the basis for the continuation of the negative dynamics of price with the objectives at 0.6450 and 0.6250. Our medium-term outlook remains negative.

Nearest resistance levels: 0,6820, 0,6940, 0.7050, 0.7200, 0.7400

Nearest support levels: 0,6720, 0,6575, 0.6450, 0.6400, 0.6320, 0.6250

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.