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CURRENCIES TECHNICAL ANALYSIS March.24

Euro

The pair remained negative on Thursday. The major pushed away from 1.0800 in the Asian session and continued losing its ground during the day. The price reached the lower limit of the upward channel at 1.0770 and stopped. The resistance is seen at 1.0800, the support stands at 1.0750.

The euro may extend its losses if it breaks below 1.0750. Sellers may drive the price to 1.0725 in this case.



Pound

GBP/USD was in buy mode on Thursday. After an Asian flat buyers broke above 1.2500 in the late European session. However, buyers lost steam after the break and stayed around the level afterwards. The current resistance is seen at 1.2600, the support exists at 1.2500.

If buyers stay above 1.2500 the GBP/USD pair may extend its gains towards 1.2600.



Yen

Fresh offers around 111.60 sent the major downside in the night. The US dollar extended its losses and broke 111.00 during the European hours. Sellers pushed the USD/JPY pair further afterwards and printed a daily low at 110.60. Buyers had reversed some losses by the end of the trades and returned the price to 111.00. The resistance is at 112.00, the support comes in at 111.00.

The price is heading towards the 110.00 handle now. However, the major needs to reclaim 111.00 first.

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