The green currency retreated today, after its incline in the previous two days on signs of economic recovery; especially since the GDP in the U.S. showed an ease in contraction, according to the data released today. Also, the IMF reduced its forecasts for writedowns from the global financial crunch, providing more hopes in markets. The upbeat news enhanced demand on higher-yielding assets. Consequently, the dollar index, which tracks the dollar's movements against a basket of major currencies, slumped to 76.82 compared with Tuesday's closing at 77.03.

The euro-dollar pair inclined today, slightly after its downside slide on the daily charts. Also, on the 4-hour and 1-hour charts, the pair is inclining. CPI's flash estimate in Euro Zone was released showing a decline to -0.3% from -0.2%. However, the euro was not impacted by the news and continued its upside moves. Meanwhile, the euro is currently traded near at 1.4619 recording a high of 1.4673 and low of 1.4576, where the pair is supported by 1.4595 and faces the coming resistance of 1.4635.

The sterling-dollar pair rose for the second day on the daily charts, reversing from an oversold area, according to the Stochastic Oscillator momentum indicator. However, the pair is showing slight decline on the 4-hour and 1-hour charts. The pound did an upside correction in a day that lacked fundamentals from the U.K. So far, the pound is traded at 1.6016, setting a high of 1.6124 and a low of 1.5947; while the coming support for the pair is seen at 1.6000 and the resistance is spotted at 1.6050.

The dollar-yen pair is showing a downside bias on the daily charts, but it is steady on the 4-hour and 1-hour charts. Now, the pair is trading around 89.76, after hitting a high of 90.40 and a low of 89.34; while the pair is currently facing the coming support level at 89.65, while the resistance is spotted at 89.90.