The green currency continued its incline on Tuesday versus other major currencies after the interest rate cut by the Russian Central Bank has raised economic woes, boosting demand on the dollar as a refuge, ahead of the release of Consumer Confidence report in the
As regards to the euro-dollar pair, it continued its downside correction on the daily charts after the prior upside trend. However, on the 4-hour and 1-hour charts, the pair is inclining. The Confidence report for September was released today in the euro zone showing improvement; where economic confidence rose to the highest in a year, but the euro was not impacted by the news. Meanwhile, the euro is currently traded near at 1.4566 recording a high of 1.4645 and low of 1.4534, where the pair is supported by 1.4525 and faces the coming resistance of 1.4575.
Relative to the sterling-dollar pair, it reversed today on the daily charts after its downside fall that started on September 14, where the pair is currently traded in an oversold area, according to the Stochastic Oscillator momentum indicator. The pair is also showing a slight incline on the 4-hour and 1-hour charts. The pound bounced after the release of important
With regard to the dollar-yen pair, it is showing an upside bias on the daily and 4-hour charts. The Japanese yen dropped today against the dollar after the announcements of the Japanese finance minister that he will intervene in foreign exchange markets. Now, the pair is trading around 90.02 after hitting a high of 90.22 and a low of 89.58; while the pair is currently facing the coming support level at 89.90, while the resistance is spotted at 90.10.