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CURRENCIES TECHNICAL ANALYSIS November.13

Euro

The EUR/USD pair recovery was stopped by the 100-EMA in the 1.1670 region. The pair bounced off the moving average and eased to the immediate support. The resistance resides at 1.1700, the support comes in at 1. 1650. We prefer to wait and see where the daily closing will happen. A daily close above 1.1670 will help buyers to extend their gains. If the spot closes below 1.1650 the common currency may return back below 1.1600.

 

Pound

The pound turned bearish in the 1.3200 region when the major touched the 200-EMA. The line rejected the spot downwards putting on hold buyers’ plans to extend a recovery. The major returned below 50 and 100 EMAs and fell to 1.3100 first. This barrier did not stop sellers who advanced down to 1.3057. The resistance lies at 1.3100, the support comes in at 1.3000. The return below 1.3200 neutralized the current bullish pressure. The currency pair returned to the red and is prone to further weakening now. Sellers may lead the spot to the round level 1.3000.

 

USD/JPY

USD/JPY stuck between two marks: 113.50 and 113.00. The US dollar bounced off the upper limit of the range on Monday and softened towards its lower one. The resistance lies at 114.00, the support comes in at 113.00. Range trading is expected to continue today.

 

GBP/JPY

Buyers’ attempt to recover stalled in the 150.00 region. The currency pair faced selling rejection around the level. Besides, the 50 and 100 EMAs blocked its way upwards. The pound turned around after touching the obstacle and dropped to 148.00. The resistance lies at 149.00, the support is at 148.00. The pair may extend its bearishness right now. After a daily close below 148.00 we could see the spot extending its decline towards the 147.00 support level.

 

EUR/JPY

The euro recovery move stalled around 132.50. The common currency broke the EMA50 and tested the 132.50 hurdle after that. Buyers failed to reclaim this level and had to retreat afterwards. As a result, the common currency dropped to 132.00. The resistance lies at 132.50, the support is at 132.00. To keep growing the spot needs to reclaim not only the 132.50 level, but the EMA100 and the EMA200 as well. It is a hard nut to crack. If buyers remain stiff the pair may reach 133.00 in the coming sessions. Otherwise, the EUR/JPY will dip to 131.50.

 

AUD/USD

The AUD/USD pair continued its neutral-to-bearish trades being sandwiched between 0.7700 and 0.7650. The resistance is at 0.7700, the support stands 0.7650. If the selling pressure increases the AUD/USD pair may regain the 0.7650 handle and resume its downtrend towards 0.7600.

 

DAX

DAX started the day in the red. The index caught a fresh-ask wave around 13100 and moved lower after that. Bears broke below the handle and drove the benchmark to 13000 in the late European session. The resistance lies at 13100, the support exists at 13000. We expect a break below the level 13000 and a slide towards 12900.

 

NASDAQ

Buyers’ attempt to regain the 6320 level failed. The NASDAQ index just touched the level and bounced back heading towards 6280. The resistance lies at 6320, the support exists in at 6280. If the benchmark remains below 6320 the index may extend its losses and ease towards 6240.

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