The pound and euro continued their incline against majors after a report showing that U.S. ADP employment change fell 23 thousands in March, defying analysts' expectations of 40 thousands rise. The news boosted higher-yielding currencies that were already traded high earlier today. On the other hand, the dollar index, which tracks the dollar movements versus six major currencies, slipped to 81.33 from the day's opening at 81.49.
With regard to the euro-dollar pair, it is showing slight incline where it is facing key resistance 1.3481 which represents 61.8% Fibonacci retracement to the upside trend that started in March last year. Still, the outlook for the euro is concerning with worries that Greece and other highly-indebted European economies will not be able to tackle their huge deficits. Today's news showed that inflation and unemployment rose in March and February respectively. The pair is currently traded at 1.3440 while recording a high of 1.3448 and a low of 1.3382, where the coming support is seen at 1.3405 and next resistance is at 1.3490.
As for the sterling-dollar pair, it is showing advance for the fifth day on the daily charts; however, the pair is facing downside pressure from the 4-hour and 1-hour charts in the absence of economic data from the U.K. today. Despite the progress seen by the sterling, it may face pressure due to political worries and high deficit in Britain. Meanwhile, the pair is traded at 1.5132 after hitting a high of 1.5144 and a low of 1.5041 while it is expected to move between support at 1.5060 and resistance at 1.5145 then 1.5225.
Relative to the dollar-yen pair, it is continuing its rally on the daily and 4-hour charts. The pair spiked after breaching resistance at 91.65 which represents 23.6% Fibonacci retracement to the upside trend that started in December. Currently, the pair is traded at 93.21, hitting a high of 93.59 and a low of 92.73, whereas support is seen at 92.70 while resistance is at 94.00.