Technical movements along with a slight strong dollar…

By @ibtimes on

So far fears remain that Japan's nuclear power plant that was damaged by last week's earthquake and that may leak radiation is still not fully controlled, which boosted speculation that investors will bring home overseas assets and helped and boosted the refuge appeal of the yen; reaching its strongest level since 1995 along with the dollar refuge appeal that remains slightly boosted.

As a result, the euro-dollar is now consolidating, having the Union currency trading at 1.3924 recording a high of 1.4000 and a low of 1.3897, knowing that the pair shows a tendency to incline according to the one-hour and four-hour stochastic oscillator.The trading range for today is among the key support at 1.3365 and the key resistance at 1.3715.

As for the pound-dollar pair, it is plummeting due to a slight strengthened dollar and may fall further to the downside according to the four-hour stochastic oscillator with the royal pound now trading at 1.6009 recording a high of 1.6130 and a low of 1.6001.The trading range for today is among the key support at 1.5965 and the key resistance at 1.6300.

Now, turning to the dollar-yen pair, it is narrow trading on the one-hour scale but can easily rise according to the momentum indicators on the one-hour chart as well having so far the low-yielding Japanese yen now trading at 80.14 recording a high of 81.17 and a low of 79.97.The trading range for today is among the key support at 81.05 and the key resistance at 84.25.

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