The U.S. dollar inclined on Tuesday, after inclining slightly yesterday, showing strong tendency for a rebound, after the federal currency had reached near its lowest level this year. The dollar index, which lost more than 5% this year, rose at 76.83 compared with the opening at 76.66 ahead of the release of important U.S. data and Bernanke's speech.
The euro-dollar pair is proceeding with a downside correction to the overbought area seen on the daily charts, as indicated by the Stochastic Oscillator momentum indicator. Also, on the 4-hour and 1-hour charts; the pair is showing a decline. Today, euro zone released its ZEW survey for September coming better than the previous but less than forecasts. However, the euro is still close to 9-month high versus the dollar. Meanwhile, the euro is traded at 1.4591 recording a high of 1.4647 and low of 1.4578, where the pair is supported by 1.4572 and faces the coming resistance of 1.4609.
As for the sterling-dollar pair; the U.S. dollar is showing more strength against the pound on the daily, which spiked after the news then, retreated. The pair is also showing a downside tendency on the 4-hour and 1-hour charts. Today,
However, the dollar-yen pair is inclining for the second day, rebounding from the downside trend that started on August 10. Last week, the greenback touched its lowest in seven-month versus the yen. Now, the pair is trading around 91.14, after hitting a high of 91.28 and a low of 90.77; while the pair is currently facing the coming support level at 91.00, while the resistance is spotted at 91.30.