The green currency rebounded, paring its earlier losses incurred today, when it hit strong support at 79.55 as seen by the dollar index, a gauge of the dollar's movements against a basket of major currencies, which rebounded from a low of 79.55 to 79.90 where it is currently traded. Later on today, the U.S. will release important data concerning housing and production in addition to the FOMC meeting as of 19:00 GMT.

With regard to the euro-dollar pair, it seems that it will continue its bearish direction that started since the beginning of December, after breaching support at 1.3740. The euro did not receive an upward push from today's upbeat data which showed that European trade surplus widened in December. Meanwhile, the pair is traded at 1.3724 after reaching a high of 1.3788 and a low of 1.3713, where the coming support is seen at 1.3720 then 1.3670 and next resistance is at 1.3800.

As for the sterling-dollar pair, it is also showing decline on the daily charts, doing a downside correction after yesterday's advance. Today, the pound fell after the data showing that claimant count change unexpectedly rose to 23.5 in January from -9.6 in December. The pair is now traded at 1.5749, recording a high of 1.5814 and a low of 1.5728, while it is moving between support at 1.5650 and resistance at 1.5810.

Relative to the dollar-yen pair, it is showing an incline on the daily and 4-hour charts. Now, the pair is traded at 90.64 after breaching strong resistance at 90.35 which represents 38.2% Fibonacci retracement to the upside trend that was formed since reaching a low of 84.79 on November 27. The pair reached a high of 90.72 and a low of 90.11, while it is moving between support at 90.10 and resistance at 91.10.