The euro continued to weaken against the dollar, reaching its lowest since April 10, 2006. thereby the dollar index traded between the highest of 88.70 and the lowest of 88.40. Now the index trades around the 88.55 level. The US will release today its consumer credit for the month of April, expected to witness a deficit of 2.0 billion dollar for the previous surplus of 2.0 billion dollars.
The euro against the dollar traded during the Asian session between the highest of 1.1943 and the lowest at 1.1875. Now the pair is trading around the 1.1903 level, between 1.1855 and 1.1920. Germany will release today its seasonally adjusted factory orders for the month of April expected to fall to -0.4% from the previous 5.0%. The hourly, four hours and daily momentum indicators point that the pair is within an oversold area. The pair today may trade around 1.2000 if it breaches the 1.1965 levels, and may trade around 1.1770 if it breaches the 1.1820 levels.
The pound against the dollar traded between the highest of 1.4443 and the lowest of 1.4400. Now the pair is trading around the 1.4429 levels between 1.4420 and 1.4485. The hourly, momentum indicators point that the pair might rebound from an oversold area, but the four hours and daily indicators point that the pair is within an oversold area. The pair today may trade around 1.4600 if it breaches the 1.4550 levels, and may trade around 1.4320 if it breaches the 1.4390 levels.
The dollar against the yen traded between the highest of 91.71 and the lowest of 90.96. Now the pair is trading around 91.23 levels between 90.70 and 91.25. Japan will release later in the day the current account and the trade balance for the month of April. The pair today may trade around 91.80 if it breaches the 91.60 levels, and may trade around 89.35 if it breaches the 90.10 levels.