The U.S. dollar advanced slightly against majors after spending and income data that matched forecasts. The dollar index, which tracks the dollar movements versus a basket of major currencies, rose to 81.43 after gaining support at 81.13 while it reached a high of 81.61 from the day's opening at 81.27. Today movement in the currency market are within narrow range.
With regard to the euro-dollar pair, it retreated today to pare some of its advance in the previous two sessions despite the Greek appointment to five banks to issue seven-year bonds. Still, the outlook for the euro is fraught with the absence of the details of last week's plan and high debt in other European countries. The optimistic confidence data for March released today could not lift the euro up as the pair stopped its advance at resistance at 1.3487. The pair is currently traded at 1.3443 while recording a high of 1.3506 and a low of 1.3416, where the coming support is seen at 1.3405 and next resistance is at 1.3525.
As for the sterling-dollar pair, it is showing advance for the third day on the daily charts after gaining support at 1.4857. The sterling was boosted after Conservatives widened their lead in the elections with their labour party rivals while S&P mentioned it is not going to change the U.K.'s top credit rating till the announcement of the election's results. Meanwhile, the pair is traded at 1.4986 after hitting a high of 1.5018 and a low of 1.4889 while it is expected to move between support at 1.4900 and resistance at 1.5000 then 1.5053.
Relative to the dollar-yen pair, it is showing slight incline on the daily charts while declining on the 4-hour and 1-hour charts. Currently, the pair is traded at 92.47, hitting a high of 92.78 and a low of 92.33, whereas support is seen at 92.20 then 91.55 while resistance is at 92.25.