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CURRENCIES TECHNICAL ANALYSIS September.28

Euro

Sellers failed to reclaim 1.1700 and retreated after that. The single currency recovered and returned to 1.1770. Despite the US dollar retracement the buck is still strong and is prone to show further downward extension. The resistance resides at 1.1800, the support comes in at 1750.

If the EUR/USD pair maintains a gloomy trend the spot may ease towards 1.1700 and 1.1650.

 

Pound

Sellers did not find any reason to move the pound below 1.3400 and stayed around the level the first part of the day. A bout of fresh buying interest emerged in the late European session and pushed the spot upwards. The price broke 1.3400 and headed towards 1.3430.  The resistance lies at 1.3500, the support comes in at 1.3400.

If sellers consolidate below 1.3400 the spot may ease to 1.3300.

 

USD/JPY

EUR/USD's momentum is still positive. The pair is still in an upward channel flirting with the recent highs. The resistance lies at 113.00, the support comes in at 112.00.

If bulls retain control the USD/JPY pair may climb to 114.00.

 

GBP/JPY

The GBP/JPY pair preserves its neutral-to-bearish stance around 151.00. The resistance lies at 151.00, the support is at 150.00.

If buyers fail to reclaim 151.00 the spot may extend it losses towards 150.00.

 

EUR/JPY

The euro is trying to build on a recovery on Thursday. The European currency pushed away from 132.50 and headed to 133.00 but stopped half way to the hurdle. The resistance lies at 133.00, the support is at 132.50.

The immediate bullish pressure might help the major to test 133.00. If buyers are lucky enough they may even reclaim the level in the coming sessions.

 

USD/CAD

The buying structure remained in place on Thursday. Buyers reached 1.2500 during the night trades and are trying to reclaim the level now. The resistance is at 1.2500, the support stands 1.2400.

If the USD/CAD does make a breakout at that level 1.2500 a further extension to 1.2600 is not ruled out

 

DAX

DAX maintained its buying bias and was able to test 12700 on Thursday. The price remained around the level after that. The resistance lies at 12700, the support exists at 12600.  

A break above 12700 would open the way to 12750 in the coming sessions.

 

NASDAQ

Traders keep the price in near-term directionless mode after the recent rally. The index stuck between 5960 and 5920. The resistance lies at 5960, the support exists in at 5920.

We believe the ask tone will remain intact. Buyers will keep trying to break through the current resistance.

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