Recently, technical movements are shaping the currencies market after that the euro weakened significantly in front of the dollar within the past session as a result of persistent worries about Greece's fiscal aid package, knowing that there's renewed concern that Greece bailout package may fall short.
Accordingly, the dollar index, which tracks the strength of the Federal currency in front a basket of currencies, is consolidating on technical movements on the four-hour and one-hour charts to trade around 80.54 recording a high of 80.73 and a low of 80.14.
Therefore the euro-dollar pair is narrow trading up till now to have the Union currency trading around 1.3558 recording a high of 1.3666 and a low of 1.3519 with a resistance detected at 1.3590 and a support witnessed around 1.3525, knowing that the pair may fall drastically according to the one-hour momentum indicators.
As for the pound-dollar pair, it is slightly climbing to the upside but forecasted to start plummeting according to the one-hour and four-hour stochastic oscillator, having the royal pound now trading at 1.5482 recording a high of 1.5523 and a low of 1.5383 with a resistance detected 1.5500 at and a support seen at 1.5450.
Now, turning to the dollar-yen pair, it is plummeting faintly on the four-hour scale as the yen is strengthening and pulling the dollar to the downside on speculation that China may be forced to scrap the yen's peg to the dollar after that its economy witnessed the fastest growth pace in three years, having the low-yielding Japanese currency now trading at 93.10 recording a high of 93.52 and a low of 92.84 with a resistance at 94.00 and a support witnessed at 92.55.