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CURRENCIES TECHNICAL ANALYSIS April.19

Euro

The euro had a positive day on Tuesday. The pair started the day around 1.0650. The spot spent the night in a flat and moved higher in the morning. The price was rallying the whole day and reached 1.0730 in the late NY session. The resistance is seen at 1.0750, the support stands at 1.0700.

We maintain bullish views until we see a break below 1.0650. Buyers seem to be pushing EUR/USD towards 1.0750.



Pound

GBP/USD was in buy mode on Tuesday. The spot was choosing its direction the first part of the day. The pound even weakened a bit and almost touched 1.2500 at noon when a fresh buying interest emerged. The pound was strengthening the whole day afterwards. Buyers broke 1.2600, 1.2700, 1.2800 and touched 1.2900 during the course of the day. The current resistance is seen at 1.2900, the support exists at 1.2800.

Buyers need to stay above 1.2700 to preserve their bullishness. Meanwhile, a pullback or consolidation is expected in the market in the near term.



Yen

The US dollar returned under pressure on Tuesday. The major started the day at 109.00 and was weakening the whole day. Sellers found a support at 108.50 in the late NY session. The resistance is at 109.00, the support comes in at 108.00.

If the price stays below the 109.00 level the USD/JPY pair will move towards 108.00 in the coming sessions.

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