The U.S. economy today is scheduled to release its retail sales in which expectations show remain weak, while currently the Dollar Index, which measures strength of the dollar versus six major currencies, is currently declining trading at 80.41 while recording a high of 80.47 and a low of 80.18.

As the euro against the dollar was climbing as a result of optimism in markets due to a recovery in global economies, while also the euro zone released its industrial production showing that they rose higher than estimates which therefore this meant that demand is improving. The EUR/USD after begin traded in an overbought area is currently seen forming a downwards trend on the one-hour charts, while the pair is currently trading at 1.3604 between the support of 1.3580 and the resistance of 1.3670 while recording a high of 1.3664 and a low of 1.3600.

The pound dollar pair is being traded in an overbought area on the daily charts while the volume indicator show us that in the past hour, there has been low volume in the markets. The GBP/USD is currently trading at 1.5421 above the support of 1.5380 and below the resistance of 1.5455 while recording a high of 1.5453 and a low of 1.5370.

The yen resumed its slide in the markets versus major currencies, as there are increasing signs that an economic recovery is occurring which therefore is reducing the appeal of the yen as a safe-haven. The USD/JPY is currently trading at 93.46 between the support of 93.20 and the resistance of 93.75 while recording a high of 93.62 and a low of 93.15.