So far, the green Federal currency dropped from a two-month high against the euro ahead of the of the FOMC rate decision since the Fed has already pledged to keep its borrowing rate close to zero for an extended period, having in mind that an interest rate raise is mostly not expected to occur till the coming July.
Consequently, the dollar index, which tracks the strength of the Federal currency against a basket of currencies, is plunging so far on the four-hour and one-hour scales within the currencies market to trade around 76.85 recording a high of 77.01 and a low of 76.60.
Now, the euro-dollar is narrow-trading due to strong technical movements taking place so far and is forecasted to slide to the downside according to the one-hour and four-hour charts momentum indicators, having accordingly the euro trading at 1.4537 recording a high of 1.4589 and a low of 1.4508 with a resistance at 1.4637 and a support at 1.4471.
As for the pound-dollar pair, it is inclining as the royal pound is advancing currently against the weak dollar, having the royal pound trading at 1.6343 recording a high of 1.6410 and a low of 1.6229 with a resistance at 1.6391 and a support at 1.6304, having in mind that the pair shows a strong tendency to climb to the upside according to the one-hour momentum indicators.
However, the dollar-yen pair is currently narrow trading between a resistance level witnessed at 90.38 and a strong support level witnessed around 88.82 due to technical movements, having the low-yielding Japanese yen trading at 89.71 recording a high of 89.87 and a low of 89.36.