So far, the major pairs are consolidated after a series of correctional movements in the past sessions that helped the green Benjamin to rebound from a 14-month low, despite the fears spread throughout the currencies market after that investors were disappointed towards Goldman Sachsalongwith Citigroup's earnings posted today.
Fears of inflation that sank the dollar to lose more than 10% over the course of this year were put to rest as the Federal Reserve statements along with the CPI index showed today that inflationary levels remains subdued over the months basis while threats will rise over on the long term therefore the dollar managed to rebound today and incline against major currencies.
As a result, the euro-dollar pair is narrow trading but shows a tendency to plunge to the downside according to the one-hour and the four-hour charts stochastic oscillator reaching the minor upside channel support levels at $1.4807, having the Union currency trading so far around 1.4911 recording a high of 1.4967 and a low of 1.4842 with a resistance at 1.4955 and a support at 1.4860. the pair is facing a strong resistance levels at $1.4929 where it has beentrying to breach throughoutthe pasttwodays.
As for the pound-dollar pair, it is narrow trading as well on the four-hour chart but inclining massively on the daily scale, the pair managed to breach the resistance levels at $1.6209 and currently trying to establishasolid trading base above it to continue with the upside channel that he entered, the royal pound is trading around 1.6240 recording a high of 1.6297 and a low of 1.5969 with a resistance at 1.6310 and a support at 1.6159, knowing that the pair may fall according to the four hour momentum indicators.
Now, turning to the dollar-yen pair, it is consolidated as well trading between a resistance level witnessed at 90.69 and support level detected at 90.28, watching the low-yielding yen so far trading around 90.70 recording a high of 90.78 and a low of 89.25, still the pair reached an overbought area according to the one hour stochastic Oscillator which might pressure a downside wave for the pair as a correctional move thus taking the pair to reach the above mentioned support levels.