The U.S. dollar was little changed against major currencies ahead of the Federal Open Market Committee, where expectations signal that the FOMC will continue to support economic growth, while data from the housing market provided strong support for confidence, especially in the stock markets, as the Dow Jones Industrial Average index is hovering around the 12,000 psychological barrier, while the S&P 500 index is also approaching the 1,300 mark.
The U.S. Dollar index, which measures the performance of the U.S. dollar against a basket of currencies including the Euro, the Pound, and the Yen, settled on daily basis to trade at 77.90, compared with the opening level at 77.86, while recording a high of 78.04 and a low of 77.75. Gold prices were little changed to reach $1332.40, compared with the opening level at $1331.49 an ounce, and oil prices rose to trade at $86.96, compared with the opening level at $86.37.
The Euro slightly declined against the Dollar today, where the EUR-USD pair is trading at $1.3673, compared with the opening level at $1.3685, while recording a high of $1.3722 and a low of $1.3644. The pair is now trading above the $1.3660 level, and so long it remains above this level, we should expect more upside movement and the target then will be the $1.3830 resistance level, however, if the pair drops below $1.3660, the direction on intraday basis will change to the downside.
The British Pound rose back today against the U.S. Dollar, where the GBP-USD pair is now trading at $1.5878, compared with the opening level at $1.5816, while the pair recorded a high of $1.5900 and a low of $1.5769. The pair is now trading above the important level at $1.5835 and so long it continues to trade above this level, the next target is set at $1.5910, however breaching the $1.5835 level to the downside would send the pair to the $1.5730 support level.
The U.S. Dollar rose against the Japanese Yen, where the USD-JPY pair is now trading at ¥82.42, compared with the opening level at ¥82.27, while recording a high of ¥82.47 and a low of ¥81.98. The pair is now trading above the ¥81.80 support level, which suggests that the way is open to reach the ¥82.65, but the pair must remain above ¥81.80 in order for this bullish scenario to continue, however, breaching the ¥81.80 to the downside would send the pair to the support level at ¥80.80.