Euro falls affected by the debt crisis

By @ibtimes on

The euro fell against the yen for the third consecutive day because of continued concerns over sovereign debt crisis in Europe; on the other hand the dollar fell in a correction against the major currencies due to expectations of lower new home sales in the United States of America.

The euro started today's session with a increase against the dollar, as the pair trades around 1.4058 after recording the highest at 1.4086 and the lowest at 1.4012. The pair faces a resistance at 1.4115. The daily momentum indicators show the pair is in an oversold area.

The pound traded lower against the greenback, trading around 1.6117 after recording the highest at 1.6139 and the lowest at 1.6067. The pair faces a resistance at 1.6160. The daily momentum indicators show the pair is heading to the downside.

The dollar/yen pair decreased during the Asian session, as the pair trades around the 81.77 level, recording the highest at 81.97 and the lowest at 81.60. The daily momentum indicators show the pair is in an overbought.

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