The green currency rose against majors in today's Asian session after the Federal Reserve Chairman Ben S. Bernanke said that the Fed will be ready to tighten the monetary policy when the economic outlook improve sufficiently. Investors turned to buy the dollar today and the USDIX inclined recording a high of 76.33 and a low of 75.88.
The euro dollar pair declined recording a low of 1.4704 and a high of 1.4778, having the 16 nation's currency trading around 1.4720. The pair fell after Bernanke's statement from the 1.4775 levels to the 1.4700 levels then it started to climbed up again. The pair is having a support at 1.4700 along with a resistance at 1.4785. The German current account and trade balance will be released today that will affect the pair's trades, while the four hour stochastic oscillator is supporting the downside.
Regarding the pound dollar pair, it fell recording a low of 1.5998 and a high of 1.6058, having the royal pound trading around 1.4730. The pair is having a support at 1.5985 along with a resistance at 1.6070. In case the pair breached support we may see it trading near the 1.5920 levels. The British total trade balance in on queue today that may move the pair on release. However, the pair is trading in an oversold are according to the one hour stochastic oscillator.
Finally, the dollar gained against the Japanese yen recording a high of 89.29 and a low of 88.67. Today's machine orders reading in