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CURRENCIES TECHNICAL ANALYSIS February.15

Euro

The pair extended its losses on Tuesday. The night recovery halted around 1.0640. Sellers seized control and moved the price lower in the European session. The price broke 1.0600 and reached 1.0550 afterwards. The resistance is seen at 1.0600, the support stands at 1.0550.

We maintain bearish views until we see a break above 1.0650. The level 1.0550 is the next sellers’ target.



Pound

Sellers continued to dominate on Tuesday. Buyers made an attempt to recover in the early trades and pushed the spot to 1.2540. After reaching the mark the market switched its sentiment. A fresh bout of selling pressure pushed the cable lower. The GBP/USD pair broke 1.2500 and stopped at 1.2450. The current resistance is seen at 1.2500, the support exists at 1.2450.

A break below 1.2500 strengthened negative sentiment in the market. Should the pair move lower and we may see the level 1.2400 break.



Yen

Buyers fought back control on Tuesday. The pair stayed neutral in the first part of the day. Sellers were losing ground until they found a solid support at 113.20. The mark rejected the price which rallied through 114.00 and only stopped at 114.50. The resistance is at 115.00, the support comes in at 114.00.

If the price breaks above the 114.50 mark the USD/JPY pair will move towards 115.00 in the coming sessions. Otherwise the US dollar may ease to 113.00.

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