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CURRENCIES TECHNICAL ANALYSIS April.6

Euro

The US remained flat on Wednesday. The pair stayed between 1.0650 and 1.0670 the whole day. The resistance comes in at the level 1.0700, the support lies at 1.0650.

We prefer to stay neutral until we get any confirmed signal.



Pound

The GBP/USD pair was strong yesterday. The major was able to recover some ground during the night and day sessions. Buyers drove the price to 1.2500 where the upward impetus lost its steam.  The resistance exists at the level 1.2500, the support stands at 1.2400.

If the price breaks above 1.2500 buying pressure will increase. Bulls might force the major to resume its upward trajectory towards the 1.2550 region. A failure to break above the hurdle will send this market to 1.2400.



Yen

USD/JPY maintained its bid tone during the course of the day. The pair started the day around 110.50. Buyers pushed the major upwards afterwards. The price broke 111.00 in the mid European session. Buyers managed to reach 111.45 when the upward momentum faded. The price turned around and returned below 111.00 in the NA session. The resistance is at 111.00, the support comes in at 110.00.

If the USD/JPY pair returns above 111.00 the price will move towards 112.00. Should the major stay below the hurdle the spot may return to the 110.40 mark.

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