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CURRENCIES TECHNICAL ANALYSIS April.10

Euro

The bearish trend remained intact on Friday. The pair was neutral in the night. Sellers became more active on the Friday morning. They were driving the spot lower the whole day and tested 1.0600 in the NY session. The resistance comes in at the level 1.0650, the support lies at 1.0600.

If selling pressure persists the EUR/USD pair will test 1.0550 in the nearest time.



Pound

A bearish tone prevailed on Friday. The pound was neutral during the night trading in a tight range a few pips below 1.2500. Bears regained control in the morning and continued their winning streak afterwards. Sellers pushed the spot lower and reached 1.2400 at the beginning of the North American session. Sellers broke the level in the early NY session and extended their gains down to 1.2367. The resistance exists at the level 1.2400, the support stands at 1.2300.

If the price stays below the 1.2400 region the selling pressure may increase towards 1.2300.



Yen

The US dollar opened red against the yen on Friday. Sellers were pushing the price lower the whole night and touched 110.00 in the mid-Asian session. The spot found fresh bids around the level and managed to reverse some losses afterwards. Buyers returned the pair to 111.00 and broke the level later the day.  The resistance is at 111.00, the support comes in at 110.00.

The trend is clearly bearish for now. A move below 111.00 will open the way to 110.00.

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