The green currency gained versus a basket of major currencies, especially the euro, after unexpected decline in U.S. jobless claims as well as Trichet's announcements which denoted that the ECB will scale back non-standard measures. Trichet also mentioned that a strong U.S. dollar is better for them and the U.S.
With regard to the euro-dollar pair, it is showing a decline on the 4-hour charts; while on the daily charts the pair is still declining. The euro reversed back from the high of 1.5140 to 1.5060 after Trichet's comments. The 16-nation currency is currently traded at 1.5085 while marking a high of 1.5140 and a low of 1.5041, whereas the coming support is at 1.5041 then 1.5000 and resistance at 1.5109.
As for the sterling-dollar pair, it is declining on the daily and 4-hour charts. The pound also fell against the dollar after Trichet's press conference. In addition, PMI services for November released today declined to 56.6 from 56.9. So far, the pound is trading at 1.6584 setting a high of 1.6719 and a low of 1.6572; while the coming support for the pair is seen at 1.6570 and the resistance is spotted at 1.6590 then 1.6613.
Relative to the dollar-yen pair, it is inclining for the third day on the daily charts. The yen is rebounding after the Japanese Prime Minister announcement yesterday that the yen's appreciation is not accepted. The pair has breached resistance level at 87.83 which represents 23.6% Fibonacci retracement to the downside trend that started on August 10. Now, the pair is trading around 88.19 after hitting a high of 88.47 and a low of 87.32; while the pair is currently facing the coming support level at 87.83, while resistance is spotted at 89.00.