The euro gained slightly against the dollar, while it is consolidating against the pound. Today the chairman of the International Monetary Fund said that this year will remain the worse for world economy, despite financial markets improved and such statements corroded investors risk appetite.
The euro gained slightly against the dollar and the pair recorded a high of 1.4067 and a low of 1.40087, having the union currency trading around $1.4055. The pair still showing a down trend as yesterday it breached the 1.4100 level to get back to 1.4000 and it is expected that it will continue falling today, after pessimistic durable goods orders witnessed yesterday. The pair is having a support at 1.4000 along with a resistance at 1.4085. If the pair breached the support level it will target 1.3985. Consumer confidence in the euro zone will be released today and it may affect the pair's trades on release. However, momentum indicators on the daily scale are supporting the downside.
The pound dollar pair is consolidating between 1.6400 and 1.6350 and it reached a low of 1.6341 and a high of 1.6404 and currently the pound is trading around $1.6380. Yesterday the pair couldn't get back to the 1.6500 level, despite fundamentals released showing that mortgage approvals in the U.K increased in June. The pair is facing a support at 1.6360 and a resistance at 1.6425. Momentum indicators on the four hours chart are showing that the pair is trading in an oversold area.
Finally, the dollar yen pair declined recording a low of 94.82 and a high of 95.30. The pair reached the 95.00 level after fundamentals released showing that industrial production in Japan came less than forecasts then it declined again getting back to the 94.50 level. The pair continues to trade between the support at 94.75 along with a resistance at 95.35. Initial jobless claims in the U.S will be released today and it may affect the pair's trades, while momentum indicators on the daily scale are showing that the pair is trading in an overbought area.