The fears remain in the currency markets around Goldman Sachs Inc. being sued by U.S. Securities Exchange Commission (SEC) for fraud, which is increasing the appeal of the dollar as a safe-refuge versus higher yielding currencies. The Dollar Index, which measures strength of the dollar versus six major currencies, is currently inclining trading at 81.18 while recording a high of 81.27 and a low of 80.86.
The euro lost strength in the markets on worries that the investigation of the Goldman Sachs Group Inc. may widen further therefore reducing the appeal of investors buying higher yielding currencies, which weighed on the strength of the euro versus the dollar. Currently the pair is trading at 1.3427 between the support of 1.3390 and the resistance of 1.3495 while recording a high of 1.3496 and a low of 1.3415. The momentum indicators on the one-hour charts are showing us that the pair is being traded in an oversold area.
The pound like the euro is losing grounds against the dollar, as investors are avoiding riskier assets which therefore causes the royal currency to tumble in markets, while the finance minister of the UK are asking for details of the fraud of Goldman Sachs Group Inc. The GBP/USD is being traded at 1.5253 between the support of 1.5165 and the resistance of 1.5330 while recording a high of 1.5314 and a low of 1.5190. The technical charts are showing us that on the four-hour charts, we see that the pair is being traded in an oversold area.
Turning to the dollar yen pair we see they are being traded in an overbought area on the one-hour charts, while are currently trading at 92.07 above the support of 91.45 and below the resistance of 92.80 while recording a high of 92.20 and a low of 91.59.