The dollar depreciated in markets versus major currencies, as Australia added jobs three-times the amount projected; while banks in China are increasing their lending andtherefore encouraging investors to move more towards higher yielding assets, while selling lower yielding assets that weighed on the dollar's strength. The Dollar Index, which usually measures strength of the dollar versus six major currencies, is currently traded at 79.89 while recording a high of 80.05 and a low of 79.70.
The euro eased its rally in the market ahead of today's European officials meeting, to discuss ways to help Greece shrink its budget deficit as a way to avoid the deficit from spreading to other nations in the Europe region. The EUR/USD pair is currently traded at 1.3738 between the support of 1.3705 and the resistance of 1.3810, while recording a high of 1.3800 and a low of 1.3732. Momentum indicators show us that the pair is being traded close to an oversold area, while there is low volume in the markets ahead of the European summit.
As the United Kingdom lacked economic data today; we see that the pound is volatile in markets versus the dollar, while it is traded at 1.5591 below the resistance of 1.5675 and above the support of 1.5580; the pair so far recorded a high of 1.5659 and a low of 1.5558. The charts show us that there is low volume in markets using the one-hour charts, while also here the pair is being traded close to an oversold area.
After the dollar yen pair could not break the resistance of 90.10, we see the trend reversed as currently the pair is declining, while remaining above the support of 88.90 as it trades at 89.72. So far, the pair records a high of 90.13 and a low of 89.68.