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CURRENCIES TECHNICAL ANALYSIS September.07

Euro

The euro was stronger on Tuesday against the dollar. Buyers managed to lead the price from the mark 1.1130 to 1.1270. The current resistance is at 1.1270, the support lies at 1.2000. The bullish views are getting more popular. We expect a breakout of 1.1270 soon. On the other hand, the instrument is overbought and we do not exclude a slight correction towards 1.1200.

07_09_2016_eurusd

Pound

The pound had a positive day on Tuesday. The sterling strengthened on the back of weak dollar and was able to set a new high at 1.3440. The level 1.3500 is the resistance now, the support comes in at 1.3360. The pair GBP/USD now seems to be heading towards its immediate resistance near 1.3500. We anticipate a bearish correction towards 1.3360.

07_09_2016_gbpusd

Yen

The pair traded in red figures on Tuesday. The dollar left its recent gains on the back of the weaker Services PMI. The price sharply fell from the level 103.50 below the support 102.50. The session low was marked at 101.90. The support stands at 101.40, the resistance is at 102.50. We believe the dollar shall face further downside pressure. The nearest sellers’ target remains the support level 101.20. The price may pull back towards the level 103.00.

07_09_2016_usdjpy

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