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CURRENCIES TECHNICAL ANALYSIS March.21

Euro

Technically, the market remained bullish on Monday. The price was growing in the night and refreshed recent peaks at 1.0775. The major bounced downwards afterwards and eased to 1.0727. Sellers failed to lead the pair lower. The EUR/USD pair turned bullish and reversed some losses during the American hours. The resistance comes in at the level 1.0750, the support lies at 1.0700.

If a downward pressure persists the single currency may extend its losses towards 1.0700.



Pound

The GBP/USD pair faced a fresh buying pressure on Monday. The Cable spiked in the European morning and broke 1.2400. However, the major failed to stay above the level. A fresh selling pressure emerged in the NY session. The pair moved lower, broke below 1.2400 and eased to 1.2350 where the spot ended the day. The resistance exists at the level 1.2400, the support stands at 1.2300.

A move below 1.2350 will reinforce sellers’ positions. Bears may push prices towards 1.2300 in this scenario.



Yen

The USD/JPY remained under pressure on Monday. The Asian recovery stalled in the 113.00 region. The US dollar bounced from the hurdle and returned to the opening prices. The resistance is at 113.00, the support comes in at 112.00.

A break below 112.50 will strength sellers’ positions. In this scenario bears will lead the currency pair to the 112.00 level.

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