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Buyers defeated sellers around the EMA100 on Tuesday. Sellers retreated and allowed the spot to continue its advance north. The pair left the 1.1650 region and rallied towards 1.1700 which was reached in the mid-European session.  The resistance resides at 1.1700, the support comes in at 1. 1650. As long as market is above 1.1600 the uptrend pressure will continue toward the 1.1700-1.1720 region.



The pound is firmly in the red. The major kept flirting with the 1.3100 level during the night hours. The selling pressure increased on European open when the sterling edged lower and moved below 1.3100. Sellers pushed the price to the last week low at 1.3060 planning to reach the 1.3000 level afterwards. The resistance lies at 1.3100, the support comes in at 1.3000. The pound is likely to show more losses today. The pair may continue its slide towards 1.3000.



USD/JPY is still in a narrow range being sandwiched between the EMA200 and the EMA100. Buyers are trying to break through the upper limit of the range now. The resistance lies at 114.00, the support comes in at 113.00. We assume that the range trading is expected to continue today.



The pound recovery was stopped around 149.30. The major faced selling rejection in the night session and bounced from the EMA200 in the morning. The spot returned below 149.00 in the mid-European session and headed towards 148.00 after that. The resistance lies at 149.00, the support is at 148.00. The pound caught a fresh descending impulse and may ease towards 148.00 now.



The euro broke through the EMA100 and the EMA200 and rallied towards 133.00. The hurdle did not stop bulls who broke the level and pushed the pair to the 133.40 region. The resistance lies at 133.50, the support is at 133.00. A break above 133.00 opened up the way for a move to 133.50.



The US dollar preserved its bullish tone on Tuesday. The major kept recovering during the European session approaching 1.2750. The resistance is at 1.2800, the support stands 1.2700. Buyers need to break through the EMA50 and the EMA100 to keep driving the spot higher. If they manage to regain these lines the pair may reach 1.2800 in the coming sessions.



DAX was neutral on Tuesday staying close to the 13100 hurdle. The resistance lies at 13100, the support exists at 13000. Sellers are trying hard to regain the market. To get control they need to break through 12900. We will remain positive until then.



S&P500 was neutral staying in a narrow range around 2580. The mentioned level together with the EMA50 blocked its further strengthening pushing the benchmark to the downside. The resistance lies at 2580, the support exists in at 2570. A weak selling interest is driving this index downwards. If the selling interest persists the S&P500 index may soften to 2570.

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