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CURRENCIES TECHNICAL ANALYSIS October.12

Euro

The pair remained in red figures yesterday. The euro continued to advance south and was able to break the level 1.1100. The EUR/USD approached the support 1.1070 during the North American session. The resistance is seen at 1.1100, the support stands at 1.1070.

A move below 1.1070 will indicate a resumption of a downtrend. If the EUR/USD pair manages to break above 1.1100, buyers may lead the price towards 1.1150.
12_10_2016_eurusd
Pound

The pound presented a modest bearish tone on Tuesday. The pair was low volatile during the day and sharply fell in the beginning of the North American session. The current resistance is seen at 1.2200, the support exists at 1.2100.

To trigger additional downward movement the price needs to break below the level – 1.2100. The pair is oversold and we expect an upward correction towards 1.2250.
12_10_2016_gbpusd
Yen

Buyers were unable to drive the pair higher. The price retreated from the local highs and erased some of its gains on Tuesday. Sellers pushed the price below the nearest level 103.50, but failed to drag it lower. The resistance exists at the level 103.50, the support comes in at 102.50.

If the pair keeps growing, the price will recover above the level 103.50 in the nearest time. Sellers can push the USD/JPY pair lower towards the 102.90 mark.

12_10_2016_usdjpy

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