The U.S. dollar inclined sharply against majors today after the FED mentioned yesterday that the U.S. economy is showing progress which enhanced the greenback, lifting it to the highest in three months versus a basket of major currencies. The dollar index spiked to a high of 77.83 from the day's low at 76.87. The green currency is continuing its upside trend and was not impacted by the downbeat U.S. jobless claims report released today.

With regard to the euro-dollar pair, it is showing a strong decline on the daily charts, floating further into an oversold area as indicated by the Stochastic Oscillator. The euro received a shock after the downgrade of debt rating by S&P to Greece late yesterday. The pair is currently close to doing 23.6% Fibonacci retracement as a downside correction to the upside trend that started since March. Currently, the pair is traded at 1.4360 recording a low of 1.4325 and a high of 1.4537, whereas the coming support is at 1.4275 and resistance at 1.4455.

As for the sterling-dollar pair, it is inclining on the daily charts after breaching the support at 1.6150, which represents 61.8% Fibonacci retarcement to the upside trend that started on October 13, where it is currently traded at 1.6124 after setting a high of 1.6339 and a low of 1.6077; while the coming support for the pair is seen at 1.6077 and the resistance is spotted at 1.6230. The pound fell tremendously after the retail sales report in the U.K. which dropped surprisingly to 0.3% in November from 0.6% in October.

Relative to the dollar-yen pair, it inclined slightly today on the daily charts for the third day, while facing a downside pressure from the 4-hour and 1-hour charts. Now, the pair is trading around 89.93 after hitting a high of 90.25 and a low of 89.53; while the pair is currently facing the coming support level at 89.60, while the resistance is spotted at 90.18.