A worsened and deepened sentiment of pessimism is still spread profoundly in the currency market, despite the unexpected incline of US retail sales, always on speculation that the U.S rescue plan will not be up to snuff or prompt growth. In fact, traders remain worried, as the past session, having their risk of appetite still corroded.
Consequently, the euro-dollar pair continues on falling as there is a slight unwinding of carry trades that is encouraging therefore investors to get rid of the euro in front of the dollar due to the high-yielding nature of the Union's currency. So far, in point of fact, the euro is traded at 1.2766 recording a high of 1.2943 and a low of 1.2752 along with a resistance at 1.2830 and a support at 1.2707. Plus, the pair shows a strong tendency to slip further to the downside as it is falling continuously in the momentum indicators on different timing scales.
As for the pound-dollar pair, it remains on plunging due to the ongoing gain of the dollar against the royal pound as a result of the unwinding of carry trades seeing the pound traded at 1.4196 recording a high of 1.4414 and a low of 1.4136. Furthermore, a resistance level is witnessed at 1.4344 and a support level detected at 1.4059.
Concerning the dollar-yen pair, it is now trading in narrow ranges due to a recovery movement, knowing that the pair shows a strong tendency to incline as it is rising to the upside in the momentum indicators on different time-scales, having the yen traded at 90.37 recording a high of 90.42 and a low of 89.81 along with a resistance at 90.66 and a support at 90.05.