So far, the major pairs are narrow trading so far as a result of technical movements despite the prior strong strengthening of the dollar that permitted the currency to rebound from a 14-month low against the euro on speculations that
For instance, the dollar index, which tracks the green Benjamin in front of six currencies, is consolidated on the daily and four-hour charts to trade at 75.14 recording a high of 75.51 and a low of 75.00.
As a result, the euro-dollar pair is inclining slightly due to technical movements but may start inclining according to the four-hour stochastic oscillator, having the Union currency so far around 1.5010 recording a high of 1.5035 and a low of 1.4942 with a resistance at 1.5035 and a support at 1.4978.
As for the pound-dollar pair, it is narrow trading as well as a result of correctional movements, seeing the royal pound trading at 1.6608 recording a high of 1.6636 and a low of 1.6485 with a resistance at 1.6684 and a support at 1.6505, knowing that the pair shows a strong tendency to fall according to the four-hour momentum indicators.
Now, turning to the dollar-yen pair, it is narrow trading between a resistance level witnessed at 91.57 and a support witnessed at 91.12 as mixed signs are detected within the momentum indicators at different time scales, having the low-yielding yen trading at 91.32 recording a high of 91.70 and as low of 90.76.