The Green currency and Japanese yen slipped against majors after the riseof European stocks, whichboosted demand on higher-yielding assets. The dollar index, a gauge of the dollar's movements versus a basket of major currencies, slumped to 74.98 compared with the opening at 75.28; paring most of yesterday's gains ahead of the release of important US data.
The euro-dollar pair showed a sharp incline on the daily charts and 4-hour charts, despite of the downbeat current account data, which showed a widened deficit in September. The pair is coming close to 100% retracement to yesterday's fall after breaching 1.4900 resistance level. The pair is currently traded at 1.4967 recording a high of 1.4971 and a low of 1.4857, whereas the coming support is at 1.4930 and resistance at 1.5000.
The sterling-dollar pair slightly changed on the daily charts, but declined on the daily and 4-hour charts. The UK released its minutes for November today; showing that the vote for the APF program came 1-7-1. So far, the pound is trading at 1.6814 setting a high of 1.6844 and a low of 1.6764, while the coming support for the pair is seen at 1.6783 and the resistance is spotted at 1.6845.
The dollar-yen pair showed a slight decline on the daily charts, as the dollar dipped against majors. Presently, the pair is trading around 89.05 after hitting a high of 89.36 and a low of 88.99; while the pair is currently facing the coming support level at 88.70, while the resistance is spotted at 89.27.