Despite signs of recovery witnessed in today's US service industry and labor market data, the major pairs are fluctuating on technical movements and investors uncertainties spread ahead of the FOMC Meeting Minutes.
Having in mind that this meeting statement will provide us with a better understanding concerning the monetary policy decision making process and how the FED assesses economic developments inside and outside of the U.S and will give traders hints on the interest rates decision.
As a result, the euro-dollar pair is now slightly plummeting and is forecasted to slip further to the downside according to the four-hour and one-hour stochastic oscillator, having the Union currency trading so far around 1.4389 recording a high of 1.4416 and a low of 1.4281 with a resistance at 1.4430 and a support at 1.4380.
As for the pound-dollar pair, it is now plunging slightly as well and shows a tendency to fall according to the one-hour momentum indicators, having the royal pound so far trading 1.5983 recording a high of 1.6062 and a low at 1.5935 with a resistance level seen at 1.6055 and a support level at 1.5925.
Now, the dollar-yen pair, it is narrow trading so far around a resistance level witnessed at 93.15 and a support level detected at 91.80, having the pair trading currently around 92.54 recording a high of 92.73 and a low of 91.50, knowing that the pair may start slipping to the downside according to the one-hour and four-hour momentum indicators.