After a long consolidation of the green Benjamin today the U.S currency is now strengthening as on one hand its refuge appeal is boosted on mounting fears that the global recovery will require a longer period to gain momentum and speed while that on the other hand the Federal Reserve authorized the extension through August 1 of its temporary dollar liquidity swap arrangements with the European Central Bank.
Moreover present technical movements permitted the dollar to strengthen as well to watch accordingly the euro-dollar pair plummet and forecasted to slip further to the downside according to the four-hour stochastic oscillator having the Union currency currently trading 1.3102 recording a high of 1.3201 and a low of 1.3097. The trading range for today is among the key support at 1.2965 and the key resistance at 1.3255
As for the pound-dollar, it is plunging as well since the royal pound is being by a strengthened dollar and trading so far 1.5456 recording a high of 1.5566 and a low of 1.5451, knowing that the pair is forecasted to start inclining according to the four-hour and one-hour momentum indicators. The trading range for today is among the key support at 1.5315 and the key resistance at 1.5650.
Now, turning to the dollar-yen pair, it is inclining and may rise further to the upside according to the four-hour momentum indicators with the low-yielding Japanese yen trading so far around 83.81 recording a high of 83.85 and a low of 83.48. The trading range for today is among the key support at 82.80 and the key resistance at 85.95.