The American dollar is witnessing a decline against its major counterparts since the beginning of the week, and the forecasts indicated that the U.S. Federal Reserve Bank will increase its purchasing of treasuries, prompted the investors to sell the greenback, pushing the dollar to decline.
The euro against the dollar traded in a narrow range during today's Asian session, where the pair trades around the 1.3396 level, recording the highest at 1.3399 and the lowest at 1.3372. The euro faces a support at 1.33360, which support the pair's upside movement. The daily momentum indicators give buying signs, while the four hours indicators show the pair in an overbought area.
The British pound rose against the dollar today during the Asian session, where now the pair trades around the 1.5865 level, recording the highest at 1.5872 and the lowest at 1.5843. The pair now faces a resistance at 1.5900, while the momentum indicators show the pair in an overbought area.
The dollar/yen pair dropped, where now it trades around the 83.44 level recording the highest at 83.54 and the lowest at 83.41. The daily momentum indicators give selling signs, while the four hours momentum indicators show the pair in an oversold area.