So far, the major pairs are narrow trading since rough technical movements are taking place presently and as the dollar refuge appeal have been slightly boosted throughout the currencies market due to the considerably plummeting of the U.S stocks within the midday session caused by the drop of energy shares.
As a result, the Federal currency is presently consolidating throughout the currencies market, having in fact the dollar index, which tracks the strength of the dollar in front of a basket of currencies, narrow trading at 74.57 recording a high of 74.64 and a low of 74.35.
Therefore, the euro-dollar pair is so far narrow trading to have the Union currency trading at 1.5047 recording a high of 1.5109 and a low of 1.5031 with a resistance at 1.5088 and a support at 1.5015, knowing that the pair is forecasted to climb to the upside according to the four-hour stochastic oscillator.
Furthermore, the pound-dollar pair is consolidating between a resistance level witnessed at 1.6703 and a support level detected at 1.6592 as mixed signs are seen throughout the momentum indicators at different time scales, having the royal pound trading at 1.6655 recording a high of 1.6693 and a low of 1.6547.
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 87.22 recording a high of 87.38 and a low of 86.57 with a resistance level witnessed at 87.53 and a support detected at 86.79.