The world's leading currency continues to gain against majors a fourth consecutive day affected by the boost it recieved from the GDP report which showed that the pace of contraction eased strongly over the course of the second quarter of this year, from the previous 6.4% contraction throughout the first quarter of this year.
The dollar index which is considered a gauge regarding the performance of the dollar against a basket of currencies inclined in today's trading session from the opening level of 78.61 to reach the highest level at 78.73 and the lowest at 78.44 whereas it's currently trading at 78.67 levels.
The EUR/USD pair, the pair is continuing within its uptrend channel while declining on the four hour stochastic Oscillator but has a strong tendency to incline on the hourly scale, in order to reach the resistance levels at 1.4271, the pair is currently trading at 1.4251 with a strong tendency to decline on the daily scale reaching the support level at 1.4218, the pair's trading range will be set among the support levels at 1.4218 and the resistance level at 1.4313. the pair managed to reach the highest levels for today at 1.4283 and the lowest level at 1.4217.
As for the GBP/USD pair, it continues with its drop where the pair is trying to reach the support levels at 1.6113 in order to breach it and continue to its lower targets at 1.6028 the the pair's trading range for today will be set among the support level at 1.6115 and the resistance levels at 1.6295, the pair managed to reach the highest level at 1.6249 and the lowest levels at 1.6151 while currently trading at 1.6188.
Finally talking about the USD/JPY pair, the dollar dropped in today's trading session against the low yielding Yen and managed to reach the highest level for today at 94.29 and the lowest level at 93.36 while currently in attempt to breach the support level at 93.29 in order to enter the descending channel in order to reach its far targets at the support levels at 92.78, the pair is currently trading at 93.57 and holds a strong tendency to incline on the 4 hour stochastic oscillator.