The U.S. dollar weakened against majors after the ADP employment report released in the U.S. came better than its prior, boosting demand for higher-yielding currencies at the expense of lower ones. Data released also today in the euro zone, U.K., and China showed improvement in these economies. The dollar index is no at 79.53 compared with yesterday's closing at 80.16.
The euro-dollar pair is showing an incline on the daily and 4-hour charts according to Stochastic Oscillator momentum indicator. Data released today in the euro zone came better than expected with PMI manufacturing showing expansion. The ECB will meet tomorrow to announce the interest rate and may reveal the details of the bonds purchase plan. Meanwhile, the euro is trading at 1.4145 recording a high of 1.4170 and low of 1.4000 along with support at 1.4105 and resistance at 1.4180.
Relative to the pound-dollar pair, it is also showing a decline on the 4-hour charts. PMI manufacturing also came better than expected, providing evidence the worst is over. So far, the pound is trading at 1.6510 reaching a high of 1.6539 and a low of 1.6382 with support at 1.6485 and resistance at 1.6535.
With regard to the dollar-yen pair, it is showing a decline on the daily and 4-hour charts. PMI manufacturing in China released today showed expansion for the fourth month. Now, the yen is traded at 96.45 hitting a high of 96.97 and a low of 96.16 along with support at 96.34 and resistance at 96.79.