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CURRENCIES TECHNICAL ANALYSIS February.17

Euro

The euro had a positive day on Thursday. The common European currency was growing the whole day. Buyers broke 1.0600 in the night and pushed the price higher afterwards. European trader kept driving the spot upwards and broke 1.0650 in the late European session. The pair extended its gains in the NY session and stopped at 1.0670. The resistance is seen at 1.0700, the support is at 1.0650.

If the pair stays above 1.0650 buyers will move the price to 1.0700. A failure here will return selling interest pushing the EUR/USD pair to 1.0600.



Pound

The British pound maintained its bid tone on Thursday. Sellers were pushing the cable higher and managed to test 1.2500. Buyers failed to retake the level and gave up their gains. The spot softened and returned below the level. The current resistance is seen at 1.2500, the support exists at 1.2400.

A break above 1.2500 will extend an upward momentum. The price may grow to the 1.2550, 1.2577 and 1.2600.



Yen

The U.S dollar downward trajectory remained intact on Thursday. Sellers broke 114.00 and kept pushing the price downwards afterwards. The USD/JPY pair tested 113.00 in the late NA session. The resistance is at 114.00, the support comes in at 113.00.

If the pair breaks below 113.00 we expect to see renewed bearish pressure. Sellers may lead the spot to 112.50.

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