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31.03.2016 - Technical view

Currencies trading and euro. The price of EUR/USD after reaching the level of 1.1350, and has stopped the decline and in the near future may show negative dynamics during which may reach the support at 1.1200, overcoming of which the basis for a further decline to objectives at 1.1050 and 1.0985. A further price growth is limited by the levels of 1.1400 and 1.1500. Our medium-term outlook remains negative and case of opening short positions, we recommend setting the stop above the level of 1.1350.

Nearest resistance levels: 1.1350, 1.1400, 1.1450, 1.1500

Nearest support levels: 1.1200, 1.1050, 1.0985, 1.0900, 1.0800, 1.0700, 1.0550

Currencies trading and British pound. The price of GBP/USD broke through the level of 1.4400, but could not continue the upward momentum, and currently shows a decline within the correction. In the near future quotes will probably reach the lower boundary of the rising channel and support near 1.4050. In case of resumption of growth, the closest target will be the resistance at 1.4500. Our medium-term outlook remains negative and we expect a fall in the near future.

Nearest resistance levels: 1.4400, 1.4500, 1.4640, 1.4700, 1.4800

Nearest support levels: 1.4180, 1.4050, 1.3860, 1.3600, 1.3500

Currencies trading and Japanese yen. The price of USD/JPY is consolidating above the level of 112.15, and in case of breaking through it, will continue to decline to the strong level of support at 111.00. On the other hand, quotations may resume growth and return to the inclined line of resistance and then grow up to 114.70. We expect growth in the mid-term with potential targets at 117.00, 118.80 and 121.50.

Nearest resistance levels: 113.00, 114.70, 116.00, 118.80, 120.20, 121.50, 122.30

Nearest support levels: 112,15, 111,00, 110,60, 108,00

Currencies trading and Australian dollar. The price of AUD/USD increased to its highest level of this year near 0.7675 and now is consolidating below this level. In case of continued growth, the closest targets will be 0.7800 and 0.8000. According to our estimates, now there is a possibility of resumption of negative dynamics with the objectives at 0.7400 and 0.7250. Our medium-term outlook remains negative.

Nearest resistance levels: 0.7675, 0,7800, 0,6000

Nearest support levels: 0.7575, 0.7400, 0.7350, 0.7240, 0.7120, 0.7000, 0.6840, 0.6800

Currencies trading and New Zealand dollar. The price of NZD/USD showed strong growth and renewed highs of this year. The growth of quotations in the near future is limited by the psychologically important level of resistance at 0.7000. Overcoming this mark in the near future is unlikely, and we expect the resumption of the fall of quotations and maintain the medium-term negative outlook, and also are waiting for the decrease in the near future with the first target at 0.6600.

Nearest resistance levels: 0.6900, 0.7000

Nearest support levels: 0.6820, 0.6600, 0,6560, 0.6450, 0.6400, 0.6320, 0.6250, 0.6200

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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.
The CIF license of PFX Financial Professionals Ltd has been suspended by the Cyprus Securities and Exchange Commission until the 24th of December 2016. Please click here