The dollar once again remains the winner in the markets as a result of anticipations that the U.S. economy is going to release data which shows that the Feds is coming closer to exiting stimulus measures. The Dollar Index, which measures strength of the dollar versus six major currencies, is currently inclining trading at 81.66 while recording a high of 81.70 and a low of 81.16.
Once again the euro tumbles versus the dollar on renewed worries that the bailout plain from the EU and IMF for Greece is not going to be enough to tame the deficit while it might spread to other nation in the euro zone. The concerns caused the euro to fall close a three-month low against the dollar, while the pair is currently traded at 1.3311 between the support of 1.3225 and the resistance of 1.3400 while recording a high of 1.3413 and a low of 1.3298. The momentum indicators on the one-hour charts are showing us that the pair is being traded in an oversold area.
The pound like the euro is depreciating while the UK did not release major economic data, while still the pound is pressured from the political issues in the economy, as there are expectations that these upcoming elections might not have a clear winner. The GBP/USD is currently traded at 1.5339 above the support of 1.5280 and below the resistance of 1.5410 while recording a high of 1.5482 and a low of 1.5320. Also here the momentum indicators are showing that the pair is being traded in an oversold area.
Although the dollar is rising versus major currencies, yet we see it declining against the yen as the pair is currently trading at 93.74 while recording a high of 94.02 and a low of 93.60, the technical charts are showing us there is a support at 92.70 and a resistance at 94.00.