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CURRENCIES TECHNICAL ANALYSIS April.27

Euro

The bulls gave up control on Wednesday. The pair turned bearish after touching 1.0950. The major was declining the whole day breaking 1.0900 on its way downwards. The EUR/USD pair continued its slide after breaking the level and reached 1.0850 in the NY session. The resistance is seen at 1.0900, the support stands at 1.0850.

From a technical perspective the spot is overbought and need some correction before it returns to a growth. Sellers may drive the pair to 1.0800 in the comings sessions.



Pound

The pound stayed in a sideways channel the whole day. Bulls made an attempt to leave it in the NY session. The price bounced off 1.2800 and headed towards 1.2860. The current resistance is seen at 1.2900, the support exists at 1.2800.

Bulls are trying to return control. Buyers need to reclaim 1.2900 to ease the downward pressure.



Yen

The USD/JPY remained in bulls' hands on Wednesday. The pair opened on a positive note and extended its bullishness during the night session. The spot was slowly growing during the European hours. Bulls became more active in the evening when the major accelerated its growth. The resistance is at 112.00, the support comes in at 111.00.

The USD/JPY pair looks very bullish. The price may extend its winning streak and reach 112.00 in the coming sessions.

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