The U.S. banks today are closed as a result of Veteran's Day, while the U.S. dollar is mixed versus major currencies as we see it depreciates against the euro while rises past the pound, but not due to its strength but because of the pound's weakness. As a result of the banks holiday, we see that the nation lacked major economic data.
The euro is currently gaining momentum versus the dollar especially as yesterday speakers from the Federal Reserve Bank stated that unemployment might continue to climb in the U.S. economy, which therefore held the dollar back from rising. The euro zone today also lacked major fundamentals yet the euro dollar pair is being traded at 1.5019 above the physiological level of 1.50, while the pair recorded a high of 1.5047 and a low of 1.4967. There is currently a support at 1.5006 and a resistance at 1.5029.
As Bank of England Governor Mervyn King stated that the economy is struggling for recovery as he is keeping an open mind towards expanding the bond purchasing program, meant that the nation continues to suffer from the worst economical phase since post world war era which therefore weighed heavily on the pound. The GBP/USD is currently trading at 1.6640 recording a high of 1.6799 and a low of 1.6618 between the support of 1.6632 and resistance of 1.6683 and if the mentioned support is broken, the pair will head towards the upcoming support of 1.6546.
The yen is losing its grounds versus the dollar while the pair is currently traded at 89.89 while recording a high of 90.02 and a low of 89.28 as there is a support at 89.67 and a resistance at 90.10. The Williams % R on the one-hour chart is showing that the pair is being traded in an overbought area.