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CURRENCIES TECHNICAL ANALYSIS April.25

Euro

After the night gap the market was neutral the whole day. The market was equally divided between sellers and buyers who were battling for 1.0850. No one won in this battle, the price stayed at the handle. The current resistance is seen at 1.0900, the support lies at 1.0850.

Short term bias indicates selling interest. A break below the 1.0850 handle will open the way towards 1.0800, en route to 1.0750.



Pound

The pound remained almost unmoved staying around 1.2800 on Monday. The resistance is at 1.2900, the support comes in at 1.2800.

We preserve our negative outlook for the GBP/USD pair. If the major breaks below 1.2800 sellers may test 1.2700 in the coming sessions.



Yen

After the night gap the market turned bearish. Sellers were driving the spot lower the whole day. Sellers broke the level 110.00 and pushed the price lower afterwards. The resistance is seen at 110.00, the support stands at 109.00.

A daily close below 110.00 will strengthen sellers’ positions. We expect to see a renewed bearish pressure in this case. Any move below 109.50 may spark a further weakening towards 109.00.

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