The U.S. dollar lost slight momentum against major currencies after the U.S. Commerce Department announced today that durable goods orders declined in June opposite to expectations, meanwhile, earnings from U.S. companies provided mixed sentiments in financial markets, where U.S. stock markets continued to fluctuate throughout today's midday session.
The U.S. dollar index, which tracks the performance of the U.S. dollar against six major currencies including the Euro, the Pound, and the Yen, declined slightly in thin trading to trade at 82.11, compared with the opening levels at 82.20, where the index set the highest today at 82.29 and the lowest at 81.94.
The Euro-Dollar pair rose on daily basis today to trade at $1.3003, compared with the opening levels at $1.2989, where the pair recorded a high of $1.3042 and the lowest at $1.2966, where the pair is now facing a support level at $1.2990 and a resistance at $1.3030, and so long as the pair remains above $1.2945, we should expect it to continue rising with targets at $1.3065.
The Pound-Dollar pair also rose on daily basis slightly in thin trading, where the pair is now trading at $1.5602, compared with the opening levels at 1.5583, while the pair recorded a high of $1.5638 and a low of $1.5544. The pair is facing a support level at $1.5580 and a resistance level at $1.5620; however, so long as the pair remains above $1.5495, the general direction for the pair is to the upside.
The Dollar-Yen pair was almost unchanged in thin trading today, where the pair is now trading at 87.72, compared with the opening levels at 87.77, while the pair recorded a high of 88.12 and a low of 87.43. The pair is still facing a strong resistance at 88.00 and a support level at 87.25, and so long as trading remains below 88.00, we should expect a downside direction to prevail over the pair's movement.