The green currency slipped on Monday for the second session to complete the failure witnessed after the non-farm payrolls report released on Friday which missed analyst's anticipations and aroused skeptics with regard the labor market conditions in the largest economy in the world. The dollar index, which tracks the dollar movements against a basket of major currencies, plummeted to 76.84, after opening today on a gap, from the day's opening at 77.37.
With regard to the euro-dollar pair, it gained on the daily and 4-hour charts, but it is facing resistance at 1.4565, where it is currently traded at 1.4547, after reaching a high of 1.4556 and a low of 1.4406. The euro touched 3-weeks high against the dollar today in the absence of economic data from major economies. The pair is becoming close to doing 38.2% Fibonacci retracement level as an upside correction to the downside trend that started on December 4. The next resistance is spotted at 1.4620, while support is seen at 1.4510.
As for the sterling-dollar pair, it is also inclining on the daily and 4-hour charts. The pair after breaching resistance at 1.5980, which represents 76.4% Fibonacci retracement to the upside trend that started on October 13, managed to breach next resistance at 1.6150, where it is traded at 1.6170 after setting a high of 1.6192 and a low of 1.6044; while the coming support for the pair is seen at 1.6095 and the resistance is spotted at 1.6240.
Relative to the dollar-yen pair, it is declining on the daily and 4-hour charts. The yen is continuing its gains since the announcement of the new Japanese Finance that the yen value should be set by the market value and after the NFP report. Now, the pair is traded at 91.94 after hitting a high of 92.65 and a low of 91.84, while the pair is currently facing the coming support level at 91.25, while the resistance is spotted at 92.60.