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CURRENCIES TECHNICAL ANALYSIS December.28

Euro

The EUR/USD finished the day almost unmoved. The euro was trading around the level 1.0450 during the day hesitating to choose any direction amid a light market. The resistance is seen at 1.0450, the support stands at 1.0400.

A consolidation is expected in the market in the near term.

28_12_2016_eurusd

Pound

The bearish trend remained intact on Tuesday. The technical picture presented a slightly bearish tone. After a consolidation during the Asian session sellers moved prices lower, posting a daily low at 1.2239.The current resistance is seen at 1.2300, the support exists at 1.2200.

A break below the mark 1.2223 may return a negative sentiment to the market. Should that mark break down sellers will lead the price towards 1.2200, en route 1.2100.

28_12_2016_gbpusd

Yen

The upward trend remained intact on Tuesday. Despite a thin market traders were able to push prices higher. Buyers led prices from the level 117.00 to 117.55 in the NY session. The resistance is at 118.00, the support comes in at 117.00.

If the price stays above the level 117.00 the USD/JPY pair will move towards 118.00 in the short time. A move below 117.00 may trigger selling on profit-taking towards 116.50.

28_12_2016_usdjpy

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