So far strong fears aroused from the world's leading economy as today's housing data came out gloomy, having the country's Housing Starts for June plummeting to 549 thousand; the worse level throughout this year, confirming that the recovery is loosing momentum and slowing down since that housing activities play a major role within the present economical revival being a key sector.
However, the major pairs are now narrow trading due to the presence of technical movements throughout the currencies market although the dollar rose within the prior EU session from a two-month low versus the euro due to today's housing pessimistic data.
As a result, the euro-dollar is presently narrow trading; consolidating on the four-hour scale and faintly inclining on the one-hour chart, having the Union currency trading at $1.2907 recording a high of $1.3027 and a low of $1.2837 with a resistance at $1.3190 and a support at $1.2810, knowing that the pair shows a minor tendency to rise to the upside according to the one-hour stochastic oscillator.
As for the pound-dollar pair, it is rising to the upside slightly, having the royal pound trading at $1.5297 recording a high of $1.5308 and a low at $1.5151 with a resistance witnessed at 1.5325 and a support level seen around 1.5015, while that the pair may start to plunge according to the one-hour momentum indicators..
Now, turning to the dollar-yen pair, it is narrow trading and forecasted to plunge according the one-hour and four-hour momentum indicators, having so far the low-yielding Japanese yen now trading at 87.24 recording a high of 87.31 and a low of 86.62 with a resistance at 89.15 and a support at 85.35.