The euro started the week at its lowest in three months, after reaching on Friday to the 1.2900 level. The euro continues to fall against the dollar and the yen on expectations the European Union will be suffering deeply from the sovereign debt crisis. Meanwhile the pound was able to sustain its strength.
The euro had an attempt to rise against the dollar during today's Asian session, yet the pair now trades around the 1.2907 level after recording the highest at 1.2929 and the lowest at 1.2884. The pair now faces a resistance at 1.2960 then at 1.3000. The daily and four hours momentum indicators show the pair in an oversold area, which might hampers the pair's downside movement.
Quite trading for the pound which is found around the 1.5544 level where it ended Friday's trading session, recoding the highest at 1.5567 and the lowest at 1.5530. The pair faces a support at 1.5500, while the daily momentum indicators show the pair in an oversold area, which might lower the chances of a downside movement.
The dollar/yen pair rose today trading around the 83.10 level, recording the highest at 83.12 and the lowest at 82.93. The pair faces a resistance at 83.80, while the daily momentum indicators show the pair in an overbought area, which might limit the pair's incline.