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CURRENCIES TECHNICAL ANALYSIS December.07

Euro

The EUR/USD finished the day in the red figures. After a brief consolidation above 1.0750 the pair made lower and broke 1.0750. However sellers failed to extend their gains. The price remained around 1.0750 after the level break. The resistance is seen at 1.0750, the support stands at 1.0700.

We will keep selling the euro if the pair fixates below 1.0700. As alternative scenario the pair may recover to 1.0800.
07_12_2016_eurusd
Pound

The sentiment was firmly bullish towards the dollar during Tuesday’s trades. Buyers were able to extend their gains and climbed to 1.2778. After posting a daily high the price got under selling pressure. The pound weakened and returned to 1.2700. The current resistance is seen at 1.2800, the support exists at 1.2700.

A break below 1.2700 may return a negative sentiment. Should that level break down sellers will lead the price towards 1.2600.
07_12_2016_gbpusd

Yen

The upward trend remained intact on Tuesday. The buying momentum stalled around 114.00. The price stayed below the recent highs being unable to move higher. The resistance is at 114.00, the support comes in at 113.00.

If the price returns below the level 114.00 the USD/JPY pair will move towards 113.00. A move below 113.00 may trigger selling on profit-taking.

07_12_2016_usdjpy

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