The common currency witnessed another incline against its major currencies the dollar and the yen, which trades at the highest level in a month versus the greenback, before a report that will show German consumer price rose at the fastest pace in two years, boosting the recovery in the Europe's largest economy to rebound, pushing investors to buy high-yielding assets such as the euro.
On the other hand, the dollar has declined during the trading session, as the Feds is continuing to support economic growth along with the U.S. housing market that declined less than analysts' forecasts, pushed the dollar to slump.
The euro rose against the dollar during today's Asian session, where the pair now trades around the 1.3703 level, after recording a high of 1.3713 and a low of 1.3690, while the pair faces a resistance at 1.3720. The daily and four hours momentum indicators show the pair in an overbought area, which limits the chances of an incline.
The pound dropped against the dollar during today's Asian session, where the pair now trades around the 1.5905 level, after recording the highest at 1.5932 and the lowest at 1.5894. The pair faces a support at 1.5800. The daily momentum indicators show the pair in an overbought area, while the four hours indicators give selling signs.
The dollar/yen pair retreated today where it trades around the 82.17 level, recording the highest at 82.19 and the lowest at 82.01. On the other hand, the pair faces a support at 81.85, while the daily and four hours momentum indicators give selling signs.