The green currency continued its rise today, after the release of U.S. Personal Spending, which had surged to its highest levels since 2008. Meanwhile, there are fears in markets concerning non-farm payrolls that may come worse than expectations, especially since unemployment reached its worst in 25 years. The dollar index, which tracks the dollar movements versus a basket of major currencies, climbed to 76.94 from the opening at 76.68.
The euro-dollar pair declined today, after its rise the previous day on the daily charts. Also, on the 4-hour and 1-hour charts, the pair slightly inclined. Unemployment in the euro zone, released today, showed further deterioration; as the rate increased to 9.6%, marking the highest in more than ten years. Today, Trichet mentioned today that random movements in the exchange rate have negatively impacted markets. Meanwhile, the euro is currently traded near at 1.4562 recording a high of 1.4667 and low of 1.4522, where the pair is supported by 1.4545 and faces the coming resistance of 1.4575.
The sterling-dollar pair remains steady on the daily charts, after inclining for two consecutive days. Also on the 4-hour and 1-hour charts, the pair is showing narrow movements. PMI manufacturing was released in the
The dollar-yen pair is showing a downside bias on the daily charts; the same thing is happening on the 4-hour and 1-hour charts. Now, the pair is trading around 89.54, after hitting a high of 90.16 and a low of 89.50; while the pair is currently facing the upcoming support level at 89.45, while the resistance is spotted at 89.65.