Euro rises against the dollar at the end of the week

By @ibtimes on

The euro rose from its lowest level in a week against the dollar because of today's Germaneconomic data that may show inflation remaining at their highest level in two years, raising expectations that the European Central Bank may resort to increase interest rates soon.

The euro started today's session inclining against the dollar, and now the pair trades around 1.3824 after recording the highest at 1.3831 and the lowest at 1.3799. The pair faces a resistance at 1.3880s. The daily and four hours momentum indicators show that the pair is being traded in an oversold area.

The pound fell today against the dollar in a slight move, trading around 1.6064 after recording the highest at 1.6075 and the lowest at 1.6056. The pair faces a support at 1.6000. The daily and four hours momentum indicators give buying signs.

The dollar against the yen declined during the Asian session, as the pair trades around the 82.79 level, recording the highest at 82.96 and the lowest at 82.76. The pair faces a support at 82.50. The daily and four hours momentum indicators show the pair close to an overbought area.

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