As the first day of the year's trading, the European currency dropped by the most in two weeks versus the American dollar and the Japanese yen and other majors, on expectations indicating that European financial crisis will impede the governments efforts and banks to raise their fund to help the economy.
The euro fell sharply against the dollar during the Asian session, trading around 1.3292, recording the lowest at 1.3274 and the highest at 1.3358. The euro faces a support at 1.3255. The daily momentum indicators show the pair in an overbought area, while four hours momentum indicators show the pair in an oversold area.
The pound declined against the dollar during the Asian session, while the pair trades around 1.5542, recording the lowest at 1.5530 and the highest at 1.5574. The pound faces a support at 1.5510. The daily momentum indicators give buying signs, supporting the pair's upside movement.
The dollar/yen pair rose during today's session, and now the pair trades around 8123 levels, recording the highest at 81.35 and the lowest at 81.11. On the other hand, the daily momentum indicators show the pair in an oversold area, while and four hours momentum indicators give buying signs, supporting the pair's upside movement.