So far, the currencies market is consolidated as traders did not witness major impacts on the trading from economic data released, still the Euro Zone producer prices dropped more than expected in December against November, illustrating a faster weakening of the inflationary pressures and therefore more European Central Bank rate cuts as it was proclaimed already by Mr.Trichet.
Consequently, the euro-dollar pair is steady up till now with a euro traded at 1.2833 recording a high of 1.2913 and a low of 1.2799 along with a resistance level witnessed at 1.2891 and a support level at 1.2810, which are in fact levels in which the pair is trading as mixed signs are detected through the momentum indicators at different time scales.
As for the pound-dollar pair, it is trading at narrow ranges with a royal pound traded at 1.4214 recording a high of 1.4272 and a low of 1.4152. Moreover, a resistance could be seen at 1.4249 and a support at 1.4171, having the pair fluctuating around them as buying and selling signs are observed through the momentum indicators on a short and long term.
Now, the dollar-yen pair is consolidated as well as other pairs, having a yen traded at 89.60 recording a high of 89.96 and a low of 89.34 with a resistance level noticed at 89.77 and a support at 89.43. Still, the pair shows a tendency to slip to the downside as it is falling on short-term scale through the momentum indicators.