The federal currency today is seen climbing versus major currencies as worries are back in the market regarding an economic recovery taking longer than earlier presumed pulling investors away from the higher yielding currencies which therefore boosts the dollar in the markets. The U.S. economy is going to release it's durable goods orders and new home sales in which projections are bright and if that is the case, then the scenario here would be different because then investors would turn to higher yielding assets as they gain confidence.

In the euro zone today, Germany released its import price index showing that prices resumed their decline which therefore meant that the ECB will not hike interest rates anytime soon. The central bank is not worried about the general price level declining since they are expecting it to happen as a result of the recession in the zone. From the deadbeat data, the euro is seen losing ground versus the dollar as the pair is being traded at 1.4795 between the support of 1.4765 and the resistance of 1.4835 while the recording a high of 1.4840 and a low of 1.4787.

The pound dollar pair is trading in narrow ranges between the support of 1.6331 and the resistance of 1.6380 at 1.6360 while recording a high of 1.6402 and a low of 1.6335. The momentum indicators on the one-hour charts are providing us with a sideways wave while there is not much taking place in the UK to move the pound in the markets.

Turning to the USD/JPY we see that the yen is extending its gains versus the dollar as the momentum indicators here on the one-hour charts are also revealing a downwards trend. The pair is currently trading at 91.08 while recording a high of 91.77 and a low of 91.05 as they pair is heading towards the support of 90.65.