Calm trading in markets

By @ibtimes on

The dollar continues to attract attention as a haven, where the Fed revised up the growth forecast for the world's leading economy, while stating that rising commodity prices will influence inflation levels in the country but will not push rates beyond the Fed's desired rate of 2.0 percent.

The US dollar index, which tracks the performance of the currency against six-majors, rose on the daily scale to 78.25, compared with the opening levels of 78.16.

The European common currency traded at the opening levels of 1.3569, while set a high of 1.3608 and a low of 1.3535.

The pair's trading is bounded by the support at 1.3505 and the resistance at 1.3620.

The pound rose on the daily scale, after rebounding from the support at 1.6080 where it's currently trading at 1.6132. The pair reached the highest at 1.6145 and the lowest at 1.6074.

Trading for today is bounded by the above mentioned support and the resistance at 1.6180.

The dollar traded lower against the yen, at 83.52, attempting to re-test the support at 83.50. The pair will drop as the Stochastic Oscillator continues to trade in overbought areas.

The pair's bonded by the support at 83.00 and the resistance at 84.0 where a breach of any levels, would allow another 50 point movement to the pair whether it was to the upside or to the downside.

Note: data was collected at 13:00 GMT.

Join the Discussion