As for the last day of this week's trading, the common currency advanced against its major counterpart the American dollar during the second half of today's Asian session, after the European Union leaders announced today that they agreed to create a stimulus plan to face future debt shocks during the next year, while the ECB is working to protect itself from the expansion of the financial crisis in 2011.
On the other hand, the greenback declined from its highest level in three months against the yen after treasury yields slid, damping demand for U.S. assets.
The euro rose against the US dollar during today's Asian session, where now the pair trades around the 1.3281 level, recording the highest at 1.3294 and the lowest at 1.3233. The euro faces a resistance at 1.3380 which may stop the pair's upside movement. The daily and four hours momentum indicators show the pair in an oversold area, supporting the pair to rise during today's session.
The pound/dollar pair traded in a narrow range during the Asian session, where now it trades around the 1.5619 level, recording the highest at 1.5645 and the lowest at 1.5612. The pair now faces a support at 1.5580, while the momentum indicators show the pair in an oversold area.
Today, the yen/dollar pair declined, where now the pair trades around the 83.95 level, recording a high of 84.05 and a low of 83.78. The daily and four hours momentum indicators give selling signs.