So far major pairs are narrow trading mainly on technical movements after that the green Benjamin lost considerable momentum in front of most of its counterparts as the Federal Reserve Chairman Ben S. Bernanke, declared today throughout his testimony to senates that on one hand the surge in oil would most can cause a temporary but not an everlasting increase of prices and therefore inflation while that that the borrowing costs are expected to remain at a low level.
Therefore, the euro-dollar pair is so far narrow trading to have the Union currency trading at 1.3802 recording a high of 1.3853 and a low of 1.3784 knowing that the pair is forecasted to slip to the downside according to the four-hour stochastic oscillator. The trading range for today is among the key support at 1.3365 and the key resistance at 1.3715.
Furthermore, the pound-dollar pair is consolidating as mixed signs are seen throughout the momentum indicators at different time scales, having the royal pound trading at 1.6276 recording a high of 1.6328 and a low of 1.6251. The trading range for today is among the key support at 1.5965 and the key resistance at 1.6300.
As for the dollar-yen pair, it is narrow trading so far due to current strong technical movements, having the low-yielding yen trading so far around 81.84 recording a high of 82.23 and a low of 81.71. The trading range for today is among the key support at 81.05 and the key resistance at 84.25.