The green currency continued its fall against a basket of major currencies after the release of U.S. home sales and factory orders. Factory orders rose from 0.8% in October to 1.1% in November, but it was offset by the 16% drop in pending home sales. Currently, the dollar index is at 77.37 compared with the day's opening at 77.50. On the other hand, the yen is still advancing against majors as some Japanese investors are returning earnings back home with the domestic currency.
With regard to the euro-dollar pair, it is showing a slight incline on the daily charts after touching a high of 1.4483 and a low of 1.4385, where it is currently traded at 1.4417. The pair is slowing down after yesterday's rise and after doing a correction to the downside trend that started on December 4. Meanwhile, it is facing resistance at 1.4430, while it is gaining support at 1.4380.
As for the sterling-dollar pair, it declined on the daily and 4-hour charts, but it is unable to breach support at 1.5980 where the pair has been fluctuating between it and 1.6150 levels in the past two weeks. The pair is currently traded at 1.6024 after setting a high of 1.6152 and a low of 1.5986; while the coming support for the pair is seen at 1.5980 and the resistance is spotted at 1.6075.
Relative to the dollar-yen pair, it is declining on the daily and 4-hour charts, as the dollar fell to the lowest in 4 weeks against the yen, but it is gaining support at 91.23 which represents 23.6% Fibonacci retracement to the upside trend that started since reaching a low of 84.79 on November 27 . The pair is currently trading around 91.50 after hitting a high of 92.54 and a low of 91.24; while the pair is currently facing the coming support level at 91.23, while the resistance is spotted at 92.00.