So far, the green Benjamin remains on gaining some momentum throughout the currencies market as its refuge appeal was strongly boosted after the consumer confidence index was released from the world's leading economy and came out gloomy and worse than forecasts plummeting to a five-month low, confirming that the unending deterioration of the labor market will continue on postponing a full recovery.
Accordingly, the dollar's refuge appeal is boosted to the upside due to the gloomy consumer confidence data throughout the currencies market to watch the dollar index, which tracks the strength of the green Benjamin in front of a basket of currencies, is inclining on the four-hour and daily charts to trade around 82.22 recording a high of 82.37 and a low of 81.81.
As a result, the euro-dollar pair is plunging on the four-hour scale and consolidating on the one-hour chart but forecasted to slip further to the downside according to the four-hour stochastic oscillator, having the Union currency trading around 1.2982 recording a high of 1.30454 and a low of 1.2950 with a resistance at 1.3090 and a support seen at 1.2775.
However, the pound-dollar pair is rising to the upside on different time charts as the royal currency remains strong and is actually trading so far around 1.5565 recording a high of 1.5576 and a low of 1.5440 with a resistance witnessed at 1.5620 and a support at 1.5360, plus the pair shows a tendency to rise further to the upside according to the four-hour momentum indicators.
Still, as trader's appetite of risk is corroded, the lowest-yielding currency; the yen, is targeted highly beyond the green Benjamin to have the dollar-yen pair plummeting currently and watching the yen trading around 87.83 recording a high of 87.93 and a low of 86.81 with a resistance level witnessed at 88.65 and a support level seen at 89.60.