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CURRENCIES TECHNICAL ANALYSIS February.6

Euro

The pair traded mixed on Friday. The euro was losing ground the first part of the day. Sellers pushed the price below 1.0750 and almost reached 1.0700 when a fresh buying interest reverted the spot. The euro reversed all its daily losses and extended its gains to 1.0800. The resistance comes in at the level 1.0800, the support lies at 1.0750.

If a buying pressure persists the EUR/USD pair will break 1.0800 and move further towards 1.0850.



Pound

A bearish tone prevailed on Friday. The pound remained under pressure trading around 1.2500 which buyers managed to defend. The resistance exists at the level 1.2500, the support stands at 1.2400.

If the price stays below the 1.2500 region the selling pressure may increase towards 1.2400.



Yen

The US dollar opened green against the yen. Buyers pushed the price higher and touched 113.00 in the early European trades. However, buyers failed to regain the level which rejected the spot downwards. The US dollar erased all its daily gains and closed at the opening price. The resistance is at 113.00, the support comes in at 112.00.

The trend is clearly bearish for now. A move below 112.50 will open the way to 112.00.

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