Cheerful day for the Euro as it managed to rebound from a year-low against the Dollar on speculation that the E.U. leaders will provide Greece with a bailout package that would ensure the country's exit from its debt obligations that reached 13 percent of the country's GDP. Moreover, better than expected corporation performance in the U.S. throughout the first three months of this year lured investors to equity markets and boosted their appetite for risk, thus investors targeted higher yielding assets, stocks and commodities in today's trading, sending the dollar to suffer against majors.
The U.S. Dollar Index halted a two-day rise as it dropped on the daily basis, where the index opened today's trading at 82.299, and set the lowest level at 81.883 before it managed to reach the highest levels for today at 82.382 while currently trading at 82.003. Gold rose to trade at $1167.15 an ounce, compared with the opening levels of $1165.60 an ounce, while oil rose to trade at $85.21 a barrel, from the opening levels of $83.32 a barrel, due to the inverse relationship between the commodities and the Dollar.
The euro-dollar pair rebounded from a one-year low, where the pair opened today's trading session at $1.3217, and managed to set the highest levels for today at $1.3277, before it dropped to the lowest levels at $1.3182, while currently trading at $1.3239. Expectations show that the pair will rise further on intraday basis, as it managed to breach the resistance at $1.3225, which paved the path for the pair to target the $1.3395 levels, but trading must remain above $1.3175 for expectations to prevail.
Moving to the Royal currency, the GBP/USD pair rebounded in trading where the pair opened today's trading at $1.5205, while currently trading at $1.5320, where it managed to reach the highest for today at $1.5340 and the lowest at $1.5140. The pair is expected to rise further as it managed to breach a pivot resistance level at $1.5245, which paved the path for the pair to target the $1.5345 and $1.5395 levels.
Finally talking about the USDJPY pair, it managed to extend yesterday's gains, where today's opening levels were set at 94.00 while it's currently trading at 94.06, after setting the highest for today at 94.25 and the lowest at 93.83. as the pair managed to breach the pivot resistance levels at $94.00, expectations show that the upcoming target for the pair is set at 94.80, but for these expectations to prevail, the pair must ensure a daily closing above 94.00 levels.