Movements today are very minor within a thin trading day, where earnings are released by large companies. Apple posted earnings higher than estimates, while other firms will release their earnings later on today. The U.S. dollar is traded at its lowest level in 14 months against a basket of major currencies. The dollar index is now at 75.27, increasing slightly from the opening at 75.22. The dollar gained after the release of worse-than-expected inflation and housing
The euro-dollar pair tradedto a slight downside bias, seen over daily charts. On the 4-hours and 1-hour charts, the pair is showing decline. The pair is giving a bearish sign, shown by the Stochastic Oscillator, which indicates that the pair may reverse from an overbought area after the euro has approached the highest in 14-month against the dollar today. The pair slipped after approaching the psychological level at 1.5000. Meanwhile, the euro is traded at 1.4950 recording a high of 1.4995 and low of 1.4847, where the pair is supported by 1.4930 and faces the coming resistance of 1.5000.
The sterling-dollar pair showed an incline on the daily chart, but on the 4-hour and 1-hour charts, the pair is declining. The pound continued its rise for the sixth day, despite the downbeat data released today, which showed that government deficit widened the most since 1993, due to technical movements. So far, the pound is trading at 1.6456, setting a high of 1.6488 and a low of 1.6352; while the coming support for the pair is seen at 1.6418 and the resistance is spotted at 1.6477.
The dollar-yen pair showed a downside tendency over daily basis, but on the 4-hour and 1-hour charts, the pair is inclining. The pair declined to test the strong support at 90.27, which represents 23.6% Fibonacci retracement level to the downside trend that started on August 10. Now, the pair is trading around 90.42 after hitting a high of 90.79 and a low of 90.06; while the pair is currently facing the coming support level at 90.27, while the resistance is spotted at 90.46.