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 labor sector along with remarks from the Federal Reserve about inflation being subdued over the long term helped the dollar to gain against majors.
The U.S Dollar Index; which measures the performance of the Green Benjamin against a six major currencies managed to incline in the European session while currently trading at the opening levels at 75.561 after reaching a high of 76.183 and low of 75.449.
The euro-dollar pair showeda decline on the daily and 4-hour charts. The euro reversed back from the high of $1.5144 levels as it currently trades at $1.4845 levels. The 16-nation currency is continuing the downside correction after reaching near 16-month low versus the greenback last week. Presently, the pair is expected to face the next support at 1.4797, while the next resistance will be at $1.4923 levels.
The sterling-dollar pair roseon the daily charts, after retracing rebounding from the support levels at $1.6381. So far the pound is trading at $1.6458, setting a high of $1.6514 and a low of $1.6310; while the coming support for the pair is seen at $1.6381 and the resistance is spotted at $1.6504.
Meanwhile, the dollar-yen pair slightly declined on the daily charts after rising for four consecutive days. The pair is trading around $89.44 after hitting a high of $90.36 and a low of $89.03; while the pair is currently facing the coming support level at $89.01, while resistance is spotted at $90.38.