The U.S. dollar plunged for the third day on Tuesday against a basket of major currencies, as indicated by the dollar index; after Australia hiked its interest rate and Arab leaders halted their discussion in regards to placing an alternative to the weak dollar. The index retreated to 76.25 compared with the opening at 76.68.

The euro-dollar pair inclined on the daily and 4-hour charts. The Euro Zone lacked fundamentals today, so movements are so far for technical reasons. The pair is now overbought on the 4-hour charts, according to the Stochastic Oscillator; therefore a downside correction is expected to take place. The European Single Currency is currently traded at 1.4740 recording a high of 1.4749 and low of 1.4644, where the pair is supported by 1.4720 and faces the coming resistance of 1.4750 then 1.4765.

The sterling-dollar pair is showing a decline on the 4-charts and 1-hour charts, but it is still showing incline on the daily charts. The week UK data released today, concerning industrial and manufacturing production, came worse than expectations, reducing demand on the sterling. After the news, the pound plummeted against the dollar traded below 1.6000. So far, the pound is traded at 1.5947, setting a high of 1.6046 and a low of 1.5927; while the coming support for the pair is seen at 1.5930 and the resistance is spotted at 1.5975.

The dollar-yen pair is showing a downside bias on the daily charts. However, on the 4-hour and 1-hour charts, the pair is showing slight incline. The Stochastic Oscillator is giving a bearish signal on the 4-hour charts, thus we might see an incline. Now, the pair is trading around 89.06, after hitting a high of 89.64 and a low of 89.83; while the pair is currently facing the coming support level at 88.95, while the resistance is spotted at 89.35.