The Japanese yen and U.S. dollar strengthened against lower-yielding currencies on fears that Germany will not approve the 45 billion euros bailout. The better-than estimated earnings by Daimler, Deutsche Bank and BP could not eclipse the impact of the Greek debt woes. The dollar index, which tracks the dollar movements versus a basket of major currencies, advanced to 81.74 from the day's opening at 81.29 but it may halt gains when it hits strong resistance at 81.90.
With regard to the euro-dollar pair, it is showing decline on the daily and 4-hour charts after the German chancellor Angela Merkel had mentioned I've said for weeks that Greece must do its homework first, Which sparked concerns that Germany along with other European members will not approve the aid. The 16-nation currency remains under pressure as the Greek debt agony continues. Currently, the pair is trading at 1.3288 recording a high of 1.3414 and a low of 1.3276, whereas support is seen at 1.3225 while resistance is at 1.3355.
As for the sterling-dollar pair, it is moving to the downside on the daily charts but stopped its decline when it touched support at 1.5313. The royal pound is expected to remain to depreciate until the May 6 elections declare a clear winner. Meanwhile, the pair is trading at 1.5335 reaching a high of 1.5482 and a low of 1.5319 while it is expected to move between support at 1.5325 and resistance at 1.5365.
Relative to the dollar-yen pair, it is declining on the daily and 4-hour charts after breaching cluster resistance at 93.76. The pair is currently trading at 93.45 after reaching a high of 94.03 and a low of 93.37, whereas support is seen at 92.70 while resistance is at 94.00.