The high-yielding assets were targeted strongly today as traders' appetite for risk was boosted after that global stocks rallied to watch the green Benjamin fall to a six-week low against the Union currency, while hopes mounted over the overall global outlook for company profits, however strong technical movements are currently shaping the currencies market to have the major pairs consolidate so far.
In fact, the dollar index, which tracks the strength of the green currency in front of a basket of currencies, is now consolidating to trade around 83.93 recording a high of 84.81 and a low of 83.82.
As a result of these technical movements, the euro-dollar pair is narrow trading recently to have the euro trade at $1.2643 recording a high of $1.2661 and a low of $1.2478 with a resistance that could be seen at $1.2700 and a support at $1.2505, knowing that the pair shows a tendency to plunge according to the four-hour stochastic oscillator.
As for the pound-dollar pair, it is consolidating as well due to these technical movements despite optimism that remains spread and is forecasted to start climbing slightly according to the one-hour momentum indicators, having the royal pound trading so far around $1.5163 recording a high of $1.5225 and a low of $1.5079 with a resistance at $1.5205 and a support detected at $1.5080.
Now, turning to the dollar-yen pair, it is consolidating between a resistance level seen at 88.60 and a support level witnessed around 86.40 as mixed signs are detected throughout the momentum indicators at different time charts with the pair trading so far around 87.44 recording a high of 87.98 and a low of 87.33.