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CURRENCIES TECHNICAL ANALYSIS April.24

Euro

EUR/USD traded mixed on Friday. Sellers controlled the market the first part of the day. Bears almost broke 1.0700 when the market turned bullish. As a result the spot spiked up to the opening price. The resistance is seen at 1.0750, the support stands at 1.0700.

Bulls were strong and managed to defend 1.0700. If they stay in driver’s seat they will lead the pair to 1.0775 first. The level 1.0800 is their second target.



Pound

The pound remained flat on Friday. The price was neutral-to bearish staying around 1.2800 the whole day. The current resistance is seen at 1.2900, the support lies at 1.2800.

The pound is still on the defensive. If buyers maintain control over 1.2800 they will extend their gains up to 1.2900. Their failure will lead sellers towards 1.2600.



Yen

The US dollar remained under pressure on Friday. Sellers were moving the price downwards the whole day. However, the level 109.00 slowed down their advance. The major closed the day flirting with the mentioned level. The resistance is at 110.00, the support comes in at 109.00.

Sellers need to retake 109.00 to maintain control. If sellers move the major lower we may see its further weakening towards 108.00.

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