Today, is a quiet day in the currencies market while we are seeing the dollar rally versus major currencies still supported by the upbeat U.S. economic data released last week, where U.S. durable goods excluding transportation rose while new home sales climbed the most in 5 decades. The Dollar Index, which measures strength of the dollar versus six major currencies, is currently inclining trading at 81.60 while recording a high of 81.70 and a low of 81.25.
The euro dollar pair we see there is low volume in the markets according to the one hour charts as a result of the lack of important economic data in the euro zone, while the pair is currently trading at 1.3317 between the support of 1.3265 and the resistance of 1.3385 while recording a high of 1.3396 and a low of 1.3290. The momentum indicators also on the one-hour charts are showing us that the pair is being traded near an oversold area. The euro is losing strength on worries that the aid provided by the EU to Greece might have problems as countries chipping in the package start approving of the package.
The pound opposite of the euro rose versus the dollar, as homes in England and Wales rose, therefore this boosted the pound in the markets as investors became optimistic about houses in the UK. The GBP/USD is currently traded at 1.5440 between the support of 1.5355 and the resistance of 1.5500 while recording a high of 1.5497 and a low of 1.5371. On the four-hour charts, the momentum indicators are showing us that the pair is being traded in an oversold area.
The dollar yen pair is climbing as they trade at 94.16 above the support of 93.30 and below the resistance of 94.70 while recording a high of 94.34 and a low of 93.92. The yen is losing strength against the vigorous dollar, while there are anticipations that Feds are getting closed to exiting stimulus measures, especially as improvement is taking place in the U.S. economy.