The euro and the pound depreciated against the dollar where confidence retreated in the 16 nation economy while unemployment unexpectedly accelerated during the three months ending October, accordingly, the dollar gained momentum against majors and ascended further.
The appreciation of the dollar can be witnessed on the US dollar index, which tracks the performance of the dollar against six-major currencies. The index rose after industrial data from the US showed better than expected performance during last month.
The US dollar index opened trading at 79.54 while setting a high of 79.88 and a low of 79.46 while currently the index is trading at 79.58.
Calm trading is witnessed in the euro-dollar pair, where the pair opened trading at 1.3372 while setting a high of 1.3381 and a low of 1.3283 before settling near 1.3349 levels.
The pair is targeting the support at 1.3265 where a four-hour closing below these levels could pave the path for the pair for further deterioration.
The pair's trend remains bullish overall, where a daily closing above 1.3275 would ensure the upside trend.
The pound traded lower, at 1.5628, while setting a high of 1.5770 and a low of 1.5616.
The pair rebounded from the resistance at 1.5865 where it depreciated, targeting the strong support at 1.5550 which if breached, would pave the path of the pair to target levels at 1.5480.
As for the Yen, the pair traded higher at 83.85 while setting a high of 84.06 and a low of 83.58, compared with the opening levels of 83.64.
Today's trading range is bounded by the support at 83.00 and the resistance at 84.40.