Today, the green Benjamin lost considerable momentum throughout the currencies market mainly within the prior EU session as it is highly speculated that Europe's present revival pace is faster than the U.S, which permitted the Euro to climb to $1.31 for the first time in almost three months.
Plus the European confidence regarding its economic outlook climbed up to the highest level in more than two years and the German jobless levels decreased, while that the U.S economy remains on struggling deeply to recover due to unending high crucial jobless levels, ongoing tightened credit conditions and a general weakening of most of its economic activities manly detected throughout this past period as confirmed by the Beige Book.
However, despite fears spread within the world's leading economy, the dollar lost momentum against the euro within the present trading of the currencies as a result of technical movements, having therefore the euro-dollar pair now narrow trading with the Union currency trading around $1.3079 recording a high of $1.3106 and a low of $1.2976 with a resistance at $1.3220 and a support at $1.2885, while the pair shows a strong tendency to start plummeting according to the four-hour stochastic oscillator.
As for the pound-dollar pair, it is plunging slightly within the four-hour scale due to technical movements and forecasted to slip further to the downside according to the four-hour momentum indicators, having the royal pound so far trading at $1.5585 recording a high of $1.5661 and a low of $1.5578 with a resistance that could be seen at $1.5745 and a support of $1.5540.
Now, turning to the dollar-yen pair, it is consolidating between a resistance level witnessed at 88.45 and a support level detected at 85.35 as mixed signs are seen throughout the momentum indicators at different time charts, having the pair currency now trading around 86.74 recording a high of 87.50 and a low of 86.55.