The green Benjamin is re-gaining momentum considerably today throughout the currencies market after that theU.S. existing home sales for August dropped unexpectedly to 5.10 million from 5.24 million, which boosted accordingly the appeal of the dollar in traders' eyes as a refuge.
As a result, the euro-dollar is plummeting and is forecasted to slip further to the downside according to the four-hour scale being pulled by the strengthened dollar, having the Union currency trading so far at 1.4638 recording a high 1.4801 and a low of 1.4632 with a resistance at 1.4699 and a support at 1.4581.
As for the pound-dollar, it fell deeply as well as the euro-dollar pair, whereas the dollar is gaining noticeably against the royal pound that is so far trading around 1.6032 recording a high 1.6386 and a low of 1.6022 with a resistance at 1.6129 and a support at 1.6003, still the pair's decline is expected to shrink according to the four-hour and the one-hour scale momentum indicators.
Now, turning to the dollar-yen pair, it is climbing to the upside as the dollar is advancing drastically against the low-yielding yen,whereas the pairis so far trading around 91.51 recording a high of 91.62 and a low of 90.33 along with a resistance witnessed at 91.85 and a support detected at 91.17.