Today, the U.S. dollar slipped against a basket of major currencies, as indicated by the dollar index, which retreated to 76.80 compared with the opening at 76.84. The dollar plunged slightly after the G-7, where their meeting abstained from finding measures that can face the dollar's depreciation. After the release of upbeat news from the European continent, investors demanded higher-yielding currencies on an improved outlook.
The euro-dollar pair inclined on the daily and 4-hour charts. The Euro Zone released its PMI Services for September showing improvement, while retail sales lingered on the month and declined on the year. The European Single Currency is currently traded at 1.4627 recording a high of 1.4655 and low of 1.4579, where the pair is supported by 1.4614 and faces the coming resistance of 1.4640.
The sterling-dollar pair showed an incline on the daily charts and on the 4-hour and 1-hour charts, as well. The PMI services released today climbed unexpectedly to 55.3, marking the highest level in more than 2 years. After news, the pound strengthened against the dollar; approaching 1.6000. So far, the pound is traded at 1.5988, setting a high of 1.6023 and a low of 1.5917; while the upcoming support for the pair is seen at 1.5975 and the resistance is spotted at 1.6000.
The dollar-yen pair showed an upside bias on the daily and 4-hour charts. The pair is consolidating on the daily charts, after the downside trend that had started on 10th of August. Now, the pair is trading around 89.92, after hitting a high of 89.96 and a low of 89.28; while the pair is currently facing the upcoming support level at 88.80, while the resistance is spotted at 90.00 then 90.20.