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CURRENCIES TECHNICAL ANALYSIS April.21

Euro

The pair traded mixed on Thursday. The spot was positive the first part of the day. The euro was rallying the whole night and broke 1.0750 in the morning. However, bulls lost interest in buying the euro right after that. The spot turned around and started to lose ground. Sellers returned EUR/USD below 1.0750 heading towards 1.0700 during night trades.ย  The resistance is seen at 1.0750, the support is at 1.0700.

The downward trajectory is likely to be continued in the short term. We believe sellers aim at 1.0700 now.



Pound

The British pound found a decent support at 1.2800. Sellers failed to reclaim the level and had to retreat. Buyers, however, did not use this chance. As a result, the pair extended its side-trend around the 1.2800 level. The current resistance is seen at 1.2900, the support exists at 1.2800.

The price may become bearish soon. The GBP/USD pair kept struggling with the current handle. A move lower will open the way towards 1.2700.



Yen

The pair maintained its bid tone on Thursday. The price was growing the Asian and European sessions and approached 109.00 by noon. However, bulls managed to retake the level only in the NY session. The resistance is at 110.00, the support comes in at 109.00.

If the pair stays above 109.00 we expect to see renewed bullish pressure towards 109.50.

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