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CURRENCIES TECHNICAL ANALYSIS February.10

Euro

The pair turned negative after the opening. The common European currency maintained its ask tone during the day. The major pushed away from 1.0700 in the afternoon and reached 1.0650 in the night. The resistance is seen at 1.0700, the support stands at 1.0650.

The euro may extend its losses if it breaks below 1.0650.



Pound

The pound traded mixed on Thursday. The cable was growing the first part of the day. Buyers almost reached 1.2600 when the upward momentum lost its strength. The price reversed its trajectory and sharply fell to 1.2500. The current resistance is seen at 1.2600, the support exists at 1.2500.

If sellers move below the 1.2500 level the GBP/USD pair may extend its losses towards 1.2400. Despite some negative sentiments the market is still bullish. Bulls will keep pushing the price upwards as long as it stays above 1.2350.



Yen

Fresh bids around 112.00 helped the spot to reverse some of its recent losses yesterday. The pair bounced off 112.00 in the Asian session and rallied through 113.00 during the European one. The resistance is at 114.00, the support comes in at 113.00.

The price is heading towards 113.50 mark. Once we break above the level, we think that the 114.00 level will be next.

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