Currencies Update

Currencies Update

EURUSD

The Euro strengthened against the US Dollar in the New York session yesterday, closing 0.07% higher at 1.1078.

At GMT0500, the Euro is trading at 1.1104 against the US Dollar, 0.23% higher from the New York close.

The Euro hit a high of 1.1097 and a low of 1.1062 against the US Dollar in the New York session.

The pair is expected to find its first support at 1.1022 and first resistance at 1.1152. The second support is expected at 1.0939 and second resistance at 1.1199.

Pair has crossed the 8H upper Bollinger band, hinting at a possible correction in the near term.

GBPUSD

In the New York session yesterday, the Pound strengthened 0.22% against the US Dollar to close at 1.2916.

The pair is trading at 1.2929 at GMT0500 in the Asian session, with the Pound trading 0.1% higher against US Dollar from the New York close.

The pair witnessed a high of 1.2929 and a low of 1.2887 in the New York session.

Immediate downside, the first support level is seen at 1.2876, followed by 1.2824, while on the upside, the first resistance level situated in 1.2969, followed by 1.3010.

A bullish crossover is visible on the chart as price has crossed the SMA from below, generating a bullish signal.

USDJPY

The USD traded 0.35% lower against the JPY in the New York session yesterday, with the pair closing the session at 113.10.

The pair is trading at 112.54 at GMT0500 in the Asian session, with the US Dollar trading 0.5% lower against Yen from the New York close.

In the New York session, the pair traded at a high of 113.56 and a low of 112.90.

The pair is expected to find its first support at 112.01 and first resistance at 113.40. The second support is expected at 111.48 and second resistance at 114.26.

The Moving Average of Commodities Channel Indicator (CCI) has crossed 100 from above hinting that the upside might remain limited.

EUR GBP

Yesterday, the Euro traded 0.09% lower against the Sterling in the New York session and ended at 0.8581.

In the Asian session, at GMT0500, the pair is trading at 0.8592, with the Euro trading 0.12% higher against Sterling from the New York close.

The pair witnessed a high of 0.8587 and a low of 0.8578 in the New York session.

The pair is expected to find its first support at 0.8539 and first resistance at 0.8622. The second support is expected at 0.8485 and second resistance at 0.8652.

A potential signal line crossover from above by the 2H MACD, hints at bearishness in the near term.

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The CityTA

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