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CURRENCIES TECHNICAL ANALYSIS February.27

Euro

The pair traded mixed on Friday. The euro was growing the first part of the day. Buyers pushed the price towards 1.0600, pierced the level and posted a weekly high at 1.0617. The euro turned bearish in the North American session. The pair broke 1.0600 and moved towards 1.0550 erasing all daily gains. The resistance comes in at the level 1.0600, the support lies at 1.0550.

If a selling pressure persists the EUR/USD pair will break 1.0550 and move further towards 1.0500.



Pound

A bearish tone prevailed on Friday. The pound traded sideways the first part of the day. The pair stayed in a tight range the whole European session. A fresh bearish impetus emerged in the NY session and pushed the price to 1.2450. 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 red against the yen on Friday. Sellers were pushing the price lower the whole day and touched 112.00 in the late US trades. The resistance is at 113.00, the support comes in at 112.00.

The trend is clearly bearish for now. A move below 112.00 will open the way to 111.60.

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