The Dollar Rebounds

By @ibtimes on

The U.S. dollar rebounded at the end of the week as stocks slipped raising concerns after the better-than-expected U.S. GDP figures released yesterday. The dollar index, a gauge of the dollar movements versus six major currencies, rose to 76.20 paring most of Thursday's losses. The U.S. released upbeat economic data today but it did not impact the dollar.

The euro-dollar pair declined on the daily and 4-hour charts. The euro zone released its CPI estimate and unemployment, where the news matched expectations and thereby having little impact on the euro. The euro slipped after yesterday's gains continuing its downside direction. Meanwhile, the euro is traded at 1.4753 recording a high of 1.4858 and low of 1.4751, where the pair is supported by 1.4735 then faces the coming resistance of 1.4795.

The sterling-dollar pair showed a decline on the daily charts, after four days of gains. The U.K, lacked fundamentals today and movements today are merely technical. So far, the pound is trading at 1.6513, setting a high of 1.6578 and a low of 1.6485; while the coming support for the pair is seen at 1.6480 and the resistance is spotted at 1.6540.

The dollar-yen pair showeda clear upside tendency over daily basis; however, on the 4-hour and 1-hour charts the pair is inclining. The yen advanced today, as the BoJ mentioned that it will scale back its bonds purchase plan. Presently, the pair is trading around 91.11 after hitting a high of 91.57 and a low of 90.82; while the pair is currently facing the coming support level at 90.95, while the resistance is spotted at 91.20.

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