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CURRENCIES TECHNICAL ANALYSIS January.13

Euro

The EUR/USD traded mixed on Thursday. Buyers were pushing the euro upwards the whole day. The pair grew to 1.0700 where the spot found fresh offers. The price turned around after touching the level and began losing its value in the Asian session on Friday. The resistance is seen at 1.0650, the support stands at 1.0600.

The euro may extend its losses if it breaks below 1.0600. A consolidation below 1.0600 will ease the upward pressure and will open the way towards 1.0450.



Pound

The pound had a negative day on Thursday. Buyers had no strength to climb beyond 1.2300. The pair faced a downward rejection after testing the level. The price bounced downwards and headed south breaking through 1.2200 on its way. The GBP/USD closed the day around 1.2150. The current resistance is seen at 1.2200, the support exists at 1.2100.

If sellers stay below 1.2200 the GBP/USD pair may extend its losses towards 1.2000. Otherwise, the GBP may roll back to 1.2300.



Yen

Fresh bids around 114.00 helped the spot to reverse some of its recent losses. The pair bounced off 114.00 and rallied to 115.00 during the European session. The upward impetus lost its strength after touching the level. The resistance is at 115.00, the support comes in at 114.00.

The price met a barrier around 115.00. Once we break above the hurdle, we think that the 116.00 mark will be next. Otherwise, the US will keep heading lower. The levels 114.00 and 113.00 are sellers’ targets.

 

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