The U.S. dollar slipped from the highest level in 3 months versus a basket of major currencies, as indicated by the dollar index which plunged to 77.83 from the day's high of 78.35, after the release of grim U.S. data. A decline in U.S. spending, housing, and confidence data pushed the dollar to the downside after a tranquil trading ahead of the yearend feasts.
With regard to the euro-dollar pair, it is inclining on the daily and 4-hour charts, but still floating in an oversold area as indicated by the Stochastic Oscillator momentum indicator. The euro rebounded from a low of 1.4232, near the lowest in three months, after breaching resistance at 1.4275. Currently, the pair is traded at 1.4324 recording a high of 1.4354, whereas the coming support is at 1.4275 and resistance at 1.4375.
As for the sterling-dollar pair, it rebounded slightly from downside trend on the daily charts, but facing strong resistance at 1.5980 which represents 76.4% Fibonacci retarcement to the upside trend that started on October 13, where it is currently traded at 1.5978 after setting a high of 1.5992 and a low of 1.5922; while the coming support for the pair is seen at 1.5940 and the resistance is spotted at 1.6000.
Relative to the dollar-yen pair, it is declining on the daily and 4-hour charts after the downbeat U.S. data which made the dollar retreats from 2-month high versus the yen. Now, the pair is trading around 91.43 after hitting a high of 91.86 and a low of 91.29; while the pair is currently facing the coming support level at 91.10, while the resistance is spotted at 91.70.