The US dollar fell against its major counterparts during the Asian session in a correctional movement after the sharp rise seen since the beginning of this week. On the other hand, fears over new quantitative easing measures adopted by the Feds next week persist.
The euro rose against the dollar today and now it trades around the 1.3308 level recording the highest at 1.3321 and the lowest at 1.3242. The European currency faces a resistance at 1.3362 which might weaken the upside movement of the pair. The daily momentum indicators show the pair getting closer to an overbought area, while the four hours indicators show the pair already in an overbought area, yet the chances for an upside movement remain valid.
The pound also rose against the dollar where now it trades around the 1.5825 level recording the highest at 1.5832 and the lowest at 1.5787. The pair now faces a resistance at 1.5860, while the momentum indicators show the pair in an overbought area.
The dollar yen pair fell sharply during today's Asian session where now it trades around the 83.80 level recording the highest at 84.10 and the lowest at 83.64. Momentum indicators give buying signs, while the four hours indicators give selling signs, which might bring volatility to the pair movement.