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CURRENCIES TECHNICAL ANALYSIS December.08

Euro

The euro extended its recovery on Wednesday. After a brief consolidation in the Asian session the single currency made higher. The pair tested 1.0750 in early trades and broke the level later the day. The resistance is seen at 1.0700, the support stands at 1.0650.

Bulls will probably remain in the driver's seat if they stay above 1.0750. In this scenario buyers will aim to test the level 1.0800.
08_12_2016_eurusd
Pound

The pound extended its downside on Wednesday. The pair started the day above 1.2600 and moved lower in early trades. GBP/USD fell to 1.2600 and stayed at the level the whole day. The current resistance is seen at 1.2700, the support exists at 1.2600.

A sharp breakout below 1.2600 could spark a further incline towards 1.2500. If the level holds the GBP/USD pair may return to 1.2700.
08_12_2116_gbpusd
Yen

The dollar weakened against the yen on Wednesday. Sellers attempted to control the market and they succeeded with it. Traders pushed prices below 114.00 and advanced to 113.00. The resistance exists at the level 114.00, the support comes in at 113.00.

The price eyes a support at 113.00 loss of which would trigger further weakness towards 112.00.

08_12_2016_eurusd

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