The Dollar continued to gain against majors at the openings session of this week whereas investor's optimism pressured the world's leading currency to gain as recovery witnessed in the manufacturing and the housing sectors within the U.S economy, meanwhile China's Industrial sector witnessed its first rise in over eighteen months indicating that global economies are starting to emerge victorious from the one year fight they had with the worst recession on more than 70 years.
The U.S Dollar Index; which measures the performance of the Green Benjamin against a six major currencies inclined in today's trading session reaching a high of 76.079 and low of 75.976 while currently trading at 76.059.
The EUR/USD pair continues to trade within the medium term ascending channel while after dropping most of today's trading session the Euro managed to trim off some of yesterday's losses against the green Benjamin and currently ascending over the four hour and one hour scale, the pair is trading within the support levels at $1.4691 and the resistance levels at $1.4929, the pair holds a strong tendency to incline over the four hour scale before dropping back again to the previously mentioned support levels in attempt to test them again. The pair opened today's trading session at $1.4716 while managed to reach the highest levels at $1.4843 and the lowest at $1.4681 while currently trading at $1.4767.
As for the GBP/USD pair, the pair is currently trading downwards over the daily scale whereas the momentum indicator is highly overbought, which might ignite further decline for the pair over the four hour scale reaching the support level witnessed at $1.6208 in attempt to retest this levels, meanwhile the Stochastic Oscillator points to a near oversold area which could halt the pair from dropping therefore pressuring it to trade sideways for the time being, the pair is currently trading at $1.6376 while it managed to reach the highest levels at $1.6477 and the lowest at $1.6326, with a support level detected at $1.6209 and a resistance levels at $1.6545.
Finally talking about the USD/JPY pair, the dollar is gaining against the Yen and currently testing the resistance levels that are set at $90.29 in attempt to build a strong trading base above those levels. The pair is expected to breach the resistance levels and incline over the four hour scale to trade among the previously mentioned resistance levels which will convert to a support level, and the upper resistance levels that are set at $91.73, the pair is currently trading at $90.24 while it managed to reach the highest levels for today at $90.69 and the lowest at $89.16.