The dollar we see today is tumbling versus major currencies as a result of the Federal Reserve Bank Vice Chairman Donald Kohn saying that benchmark rates will remain unchanged at the lowest for an extended period and this right away weighed on the dollar. Also as Intel Corp.'s announced its forecasted revenues that surpassed market expectations increased risk appetite pushing investors towards higher yielding assets.

The euro is surging versus the dollar as currently investors are filled with optimism which means that have more confidence in trading in higher yielding currencies and this supports the euro in the markets causing it to incline. The EUR/USD is being traded at 1.4902 between the support of 1.4829 and the resistance of 1.4914 while recording a high of 1.4912 and a low of 1.4837. The momentum indicators on the one-hour charts are showing us that the pair is trading in an overbought area.

Turning to the pound, we see that it is also climbing against the federal currency while the United Kingdom released its unemployment rates showing that they remained steady at 7.9%. The GBP/USD is being traded at 1.5979 between the support of 1.5940 and the resistance of 1.6041 while recording a high of 1.6024 and a low of 1.5900. The momentum indicators here also show us on the one-hour chart that the pair is being traded in an overbought area.

The yen today gained some momentum versus the dollar as a result of Japan releasing its producer prices showing that they fell while the Bank of Japan today left interest rates unchanged at 0.1%. The USD/JPY is being traded at 89.15 while recording a high of 89.88 and a low of 88.82. For the pair we see there is a support at 88.70 and a resistance of 89.70.