Throughout the prior EU session the dollar continued on gaining strong momentum throughout the currencies market seeing its appeal boosted as after that yesterday President Barack Obama announced the extension of Bush era's tax cuts, boosting hopes and optimism since that this new expansion is highly forecasted to ease pressures on the Federal Reserve to actually extend its $600 billion bond-purchase program and of course support and boost economic growth.
However, present technical movements are taking place and made the U.S currency weaker to actually watch the euro-dollar pair rise faintly to the upside so far and have the Union currency trade around 1.3243 recording a high of 1.3280 and a low of 1.3178 and the pair is forecasted to incline further according to the one-hour and four-hour momentum indicators. The trading range for today is among the key support at 1.3080 and the key resistance at 1.3425.
As for the pound-dollar, it is inclining so far and may most probably climb further to the upside according to the one-hour and four-hour stochastic oscillator with the royal pound now trading around 1.5802 recording a high of 1.5835 and a low of 1.5666. The trading range for today is among the key support at 1.5510 and the key resistance at 1.5900.
Now, turning to the dollar-yen pair, the green Benjamin is actually being pulled to the downside by the low-yielding Japanese yen that is now trading around 84.10 recording a high of 84.29 and a low of 83.44 but the pair is highly forecasted to start dropping according to the one-hour and four-hour momentum indicators. The trading range for today is among the key support at 82.80 and the key resistance at 85.00.