So far, technical movements are shaping the current currencies market trading to have the major pairs consolidated and fears remain spread throughout the U.S session as a result of worse-than forecasted data, having on one hand the jobless claims and the trade deficit of the superpower rose more than forecast, while that on the other hand export growth slowed in China, raising concern the global recovery may pause.
Therefore, the euro-dollar pair is so far narrow trading to have the Union currency trading at 1.3794 recording a high of 1.3925 and a low of 1.3789, knowing that the pair is forecasted to climb to the upside 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 1.6055 recording a high of 1.6212 and a low of 1.6037. 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 82.84 recording a high of 83.17 and a low of 82.68. The trading range for today is among the key support at 81.05 and the key resistance at 84.25.