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CURRENCIES TECHNICAL ANALYSIS January.27

Euro

The euro had a negative day on Thursday. The common currency lost ground in the Asian session and kept moving downwards afterwards. The pair broke 1.0650 in the European session and tested 1.0600 in the NA one. The resistance is seen at 1.0700, the support is at 1.0650.

If the pair stays below 1.0650 sellers will move the price to 1.0600. A failure here will return buying interest pushing the EUR/USD pair to 1.0750.



Pound

The sterling retreated from its recent highs and slightly softened on Thursday. The GBP/USD pair fell from 1.2672 to 1.2550 where it lost the downward impetus. Despite a decline the cable maintained control of the flows. The current resistance is seen at 1.2700, the support exists at 1.2600.

A break below 1.2550 will extend a downward momentum. The price may fall to the 1.2500 handle.



Yen

The U.S dollar recovery remained intact on Thursday. Buyers broke 114.00 on European open and kept pushing the price upwards afterwards. The USD/JPY pair tested 115.00 by the NY opening. The resistance is at 115.00, the support comes in at 114.00.

If the pair breaks above 115.00 we expect to see renewed bullish pressure. Buyers may lead the spot to 116.00.

 

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