The focus today in the markets is on the U.S. data and the European finance ministers aiding Greece, as later on today the plan will be carried out giving details of the financial support to Greece. The dollar is seen declining versus major currencies while expectations for housing data later on today are gloom as they are to worsen. The Dollar Index, which measures strength of the dollar versus six major currencies, is currently traded at 80.02 while recording a high of 80.32 and a low of 80.00.
From the biggest nation in the euro zone, Germany released its confidence survey reports showing that it beat estimates and this supported the euro to climb, while also investors are looking forward to the emergency aid that is to be provided to Greece. The EUR/USD is currently trading at 1.3717 between the support of 1.3645 and the resistance of 1.3770 while recording a high of 1.3720 and a low of 1.3655. The momentum indicators on the one-hour charts are providing us with an upside trend.
Although the United Kingdom lacked economic data, yet we see the pound climb against the dollar as currently the pair is traded at 1.5129 between the support of 1.5020 and the resistance of 1.5170. The pair so far recorded a high of 1.5134 and a low of 1.4976. Here the momentum indicators on the one-hour charts are showing that the pair is being traded in an overbought area, while the pair is bullish today.
Turning to the dollar-yen pair, after the yen was inclining earlier, this scene has reversed as it is currently seen declining versus the federal currency. The pair is currently trading at 90.70 above the support of 89.70 and below the resistance of 91.25 while so far recording a high of 90.72 and a low of 89.97.