Dollar strengthening slightly ahead of the FOMC Minutes meeting outline…

By @ibtimes on

So far today optimism was strongly spread from the world's leading economy after that its housing sector reported better-than forecasted housing starts for the month of January; still the dollar is strengthening slightly presently throughout the currencies market on uncertainties ahead of the FOMC Minutes Meeting outline.

As a result the euro-dollar pair is narrow trading so far on technical movements and due to uncertainties created ahead of FOMC Minutes Meeting outline with the Union currency trading around 1.3546 recording a high of 1.3588 and a low of 1.3460 knowing that the pair will remain consolidated according to the one-hour and four-hour momentum indicators. The trading range for today is among the key support at 1.3365 and the key resistance at 1.3715.

As for the pound-dollar pair, it is inclining faintly to the upside but may start plunge according to the one-hour stochastic oscillator with the royal pound trading at 1.6069 recording a high of 1.6184 and a low of 1.5985. The trading range for today is among the key support at 1.5965 and the key resistance at 1.6300.

Now turning to the dollar-yen pair, it is falling to the downside being pulled by the strengthened low-yielding yen that is trading so far around 83.59 recording a high of 83.60 and a low of 83.51, knowing that the pair is forecasted to plummet according to the one-hour momentum indicators. The trading range for today is among the key support at 81.05 and the key resistance at 84.25.

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