Yesterday, the Major currencies failed to continue to incline, to remain at same levels. Today, we can get there is a cool moves during Asian session, while the global investors are waiting of a U.S. report today that may show the employment sector. On the other side, the yen declined against the dollar and the euro as gains in Asian stocks and speculation European economies are recovering.
Yesterday, the euro fell against the dollar. Today the euro/dollar pair recorded a low of 1.3175 and a high of 1.3194, having the pair trading around 1.3182. Also, the pair may decline according to momentum indicators on the four hour and daily charts. In case the pair breaks 1.3130 levels, means the pair is on the way to next level at 1.3060, , trading among its resistance at 1.3130 and a support at 1.3055.
Today, the British pound rose against the dollar during the Asian session, and sterling recorded the highest of 1.5887 and a lowest of 1.5863, trading around 1.5880. On the other hand, the daily momentum indicators indicate that the pair is in an overbought area signaling a possible correctional movement.
The dollar/yen pair advanced to reach the 86.11 level, after recording a low of 85.72. The pair is trading in an oversold area according to the momentum indicators; the resistance level ahead resides at 86.60 and the support at 84.80.