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CURRENCIES TECHNICAL ANALYSIS September.29

Euro

The US dollar retracement helped the euro to recover some ground. The spot moved from 1.1716 and strengthened up to the 1.1800-1.1820 region. The resistance resides at 1.1800, the support comes in at 1750.

The single currency has a chance to extend its corrective movement towards 1.1850 in the coming sessions.

 

Pound

The pound bounced from 2-week lows and was able to reverse some losses. The major reclaimed 1.3400 the other day and advanced up to 1.3450 where the spot faced sellers’ resistance and returned to the 1.3400 handle. The resistance lies at 1.3500, the support comes in at 1.3400.

A move above 1.3450 can add more support to the pound. The British currency could extend its recovery and touch 1.3500 in the near-term.

 

USD/JPY

The 113.00 appeared to be a hard nut to crack for buyers. Bulls tried to retake the level twice and both times failed. The exhausted bulls stepped away allowing bears to regain control. Sellers started to drive the price lower heading towards 112.00 on Friday. The resistance lies at 113.00, the support comes in at 112.00.

We believe the pair may ease further and test 112.00 in the coming sessions.

 

GBP/JPY

The GBP/JPY pair left the range around 151.00 and edged lower. Sellers got a chance to regain control when an increased selling pressure pushed the spot out of the range in the morning. The resistance lies at 151.00, the support is at 150.00.

We still hold the view that the currency pair will struggle to decline south of 151.00. Sellers might push the pound to 150.00.

 

EUR/JPY

The euro preserved its buying bias on Friday and continued its recovery towards 133.00 on Friday. The resistance lies at 133.00, the support is at 132.50.

If bulls retain control the EUR/JPY pair might grow to 133.50 in the upcoming days.

 

NZD/USD

Sellers keep struggling with the 0.7200 handle trying to regain the level. Every their attempt faced buyers’ resistance who rejected the spot upwards. The resistance is at 0.7250, the support stands 0.7200.

Sellers will keep flirting with 0.7200 in the near term. If they are lucky they may reclaim the level and drive the pair to 0.7150.

 

DAX

DAX opened in the green on Friday. Buyers extended their gains in the morning pushing the index to 12750. The resistance lies at 12800, the support exists at 12700.  

The benchmark is likely to continue its raise targeting to reach 12800 in the upcoming sessions.

 

S&P500

S&P500 remains in an uptrend on Friday. A rebound from 2500 lifted the index back to 2510. The resistance lies at 2510, the support exists in at 2500.

Any move above the immediate resistance would increase chances of testing the 2520 mark.

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