Losses for the dollar on the third trading day of the week

By @ibtimes on

The American dollar declined to the lowest in two weeks against its major counterparts, before a U.S. report that will show a drop in housing starts, while unemployment rates continue to increase.As a result, the Feds cannot raise the interest rates, bringing losses to the dollar.

The euro/dollar pair rose during the Asian session, where the pair now trades around the 1.3443 level, after recording the highest at 1.3458 and the lowest at 1.3376, where the pair faces a resistance at 1.3500. The daily momentum indicators show the pair in an overbought area, while four hours momentum indicators give selling signs, which limits the chances for an incline during today's trading session.

The British pound also rose against the American dollar during the Asian session, where the pair now trades around the 1.6005 level, after recording the highest at 1.6017 and the lowest at 1.5955, where the pair faces a resistance at 1.6040. The daily momentum indicators show the pair in an overbought area, while the four hours momentum indicators show the pair in a natural trend.

The yen drooped against the dollar, and now it trades around the 82.20 levels, recording the lowest at 82.11 and the highest at 82.67. On the other hand, the pair faces a support at 81.95, while the daily and four hours momentum indicators still give selling signs.

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