So far today, despite of cheerful second-quarter earnings reported by huge known U.S corporations, fears remain spread as the world's leading economy current recovery is losing momentum due to unending high jobless levels and a present weakening of the housing activities since that the government tax credit expired, knowing that Bernanke will testify at 14:00 EST before the Senate Banking Panel, where investors are being cautious over what Bernanke might say.
Accordingly, the dollar refuge appeal is boosted throughout the currencies market to actually watch the dollar index, which tracks the strength of the green Benjamin in front of basket of currencies, inclining on several time-scales to trade around 83.07 recording a high of 83.12 and a low of 82.55.
As a result, the euro-dollar pair is slightly plunging as the euro is being pulled by the strengthened dollar and the pair may fall further to the downside according to the one-hour momentum indicators, having the Union currency now trading around $1.2803 recording a high of $1.2912 and a low of $1.2787 with a resistance at $1.3025 and a support at $1.2775.
As for the pound-dollar pair, it is plummeting faintly as well since fears corroded trader's appetite to target high-yeilding assets such as the royal pound which is actually now trading around $1.5184 recording a high of $1.5335 and a low of $1.5179 with a resistance seen at $1.5355 and a support seen at $1.5080.
Now, turning to the dollar-yen pair, it is now narrow trading as a result of technical movements between a resistance level witnessed at 88.00 and a support level detected at 86.60 since mixed signs are seen within several time-scales momentum indicators, having the pair now trading around 87.26 recording a high of 87.50 and a low of 86.84.