So far, the major pairs are narrow trading due to rough technical movements after that the dollar weakened deeply throughout the currencies market in the previous sessions as a new global reserve currency is being discussed between major economies and since the central bank of Australia has unpredictably raised its interest rates on signs of an economic recovery.

As a result, the euro-dollar pair is narrow trading so far due to strong technical movements taking place, having the euro trading so far at 1.4714 recording a high of 1.4762 and a low of 1.4644 with a resistance at 1.4745 and a support at 1.4685, knowing that the pair may plunge according to the four-hour stochastic oscillator.

As for the pound-dollar pair, it is slightly declining and is forecasted to slip further to the downside according to the four-hour momentum indicators, having the royal pound so far trading at 1.5900 recording a high of 1.6046 and a low of 1.5873 along with a resistance at 1.5943 and a support at 1.5862.

Now, turning to the dollar-yen pair, it is narrow trading and shows a tendency to incline to the upside on the four-hour and one-hour momentum indicators, having the yen trading at 88.84 recording a high of 89.64 and a low of 88.60 with a resistance at 89.19 and a support at 88.44.