The Yen fell from a six-week high versus the euro, with an increasing demand for higher-yielding assets. Today, the dollar slipped against majors, as demand on the euro and the sterling inclined; meanwhile the Australian dollar inclined as well against its major counterpart the greenback, following today's RBA minutes in which presented the outlook for a stronger growth in Australia has not changed.
The euro witnessed an incline against the dollar during the Asian session, which might be an indication of a change in its downside trend seen last week. The euro/dollar pair recorded a high of 1.2851 and a low of 1.2803, having the pair trading around 1.2843. The pair is trading in an oversold area according to daily momentum indicators, supporting the pair to incline, and it is trading between its resistance of 1.2924 and its support of 1.2750.
The British pound inclined as well against the dollar during the Asian session, recoding a high of 1.5681 and a low of 1.5637, having the pair trading around 1.5676. The pair is trading in an oversold area according to the daily momentum indicators, trading between its resistance of 1.5804 and the support of 1.5575.
The Japanese Yen rose against dollar as a result of an increase in demand on the Japanese currency, recording the highest of 85.36 and lowest of 85.17, and now the pair is trading around 85.33. The four hour momentum indicators show that the pair is in an upside trend, which increases the pressure on the pair to resume its incline.