Once again, we continue to witness calm trading in markets ahead of the Holidays,with sideways trading in markets and low volume witnessed. The Dollar Index, which usually gauges strength of the federal currency against six major currencies, is currently traded 78.28 while recording a high of 78.35 and a low of 78.14.
The euro versus dollar pair is being traded at 1.4243 between the support of 1.4221 and the resistance of 1.4267, while recording a high of 1.4275 and a low of 1.4233. For the pair, momentum indicators support the fact that the pair is consolidating on the one-hour charts; while volume indicators are showing that there is low volume in markets, which is also a reason due to the lack of major economic data from the euro zone.
The Bank of England released its minutes showing that the vote on the interest rates and APF program was unanimous, and the release of the minutes did not affect the pound, since it was presumed in markets. The GBP/USD is currently traded at 1.5968, while recording a high of 1.5977 and a low of 1.5922. For the pair, we see there is a support at 1.5909 and a resistance at 1.5992 while here we also see low volume in markets next to sideways trading.
The weak trading in markets is keeping the dollar yen pair trading between the same levels all day,with support at 91.55 and resistance of 91.90 currently at 91.83. The pair so far recorded a high of 91.86 and a low of 91.54; momentum indicators here show us that the pair is trading close to an overbought area.