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CURRENCIES TECHNICAL ANALYSIS March.1

Euro

The pair remained under pressure on Tuesday. Buyers made an attempt to develop a minor recovery. They managed to break 1.0600 and pushed the spot higher in the US session. However, their gains were limited by selling pressure around the euro. The resistance is seen at 1.0650, the support stands at 1.0600.

As the most probable scenario, we consider further moving upwards towards the level at 1.0650.



Pound

The pound was neutral on Tuesday. The British currency traded sideways above 1.2400 the whole day. A bullish spike at the start of the NY session was not successful. Sellers returned the price to the mentioned handle. The current resistance is seen at 1.2500, the support lies at 1.2400.

We believe bulls will return control soon. They may push the price towards 1.2500. Their second target lies at 1.2565.



Yen

The USD/JPY pair maintained its bearish tone on Tuesday. The major started the day above 112.00. Sellers were pushing the price downwards the whole day and reached the handle in the early NA session. The resistance is at 113.00, the support comes in at 112.00.

A move below 112.00 will confirm sellers' strength. In this scenario sellers may drive prices towards 111.50.

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