The euro rises against the dollar on the oil’s behalf

By @ibtimes on

The euro gained today against the dollar for the first time in three days as oil prices may continue to rise, which will increase pressures on the ECB to start fighting inflation by raising rates. Meanwhile the safe heaven yen lost some ground against majors.

The euro rose today against the dollar trading around 1.3722 after recording the highest at 1.3733 and the lowest at 1.3671. The pair faces a resistance at 1.3660. The daily and four hours momentum indicators show the pair in an overbought area, which may favor the pair's decline.

The pound rose today against the dollar trading around 1.6217 after recording the highest at 1.6226 and the lowest at 1.6255. The pair faces a resistance at 1.6150. The daily and four hours momentum indicators show the pair in an overbought area, which may favor the pair's decline.

The dollar against the yen fell slightly as the pair trades around the 82.67 level, recording the highest at 82.88 and the lowest at 82.52. The pair faces a support at 82.50. The daily and four hours momentum indicators show the pair in an oversold area which may favor the pair's incline.

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