Although this present period is a challenging one for the world's superpower as its recovery from the worst crisis witnessed since WWII stagnated and lost some momentum, still optimism remains detected mainly after that the Institute for Supply Management's non-manufacturing index rose optimistically to 54.3 from 53.8, indicating that service industries expanded in July at a faster rate.
As a result, the country's currency saw its appeal boosted to actually watch the dollar index, which tracks the strength of the green Benjamin in front of basket of currencies, inclining on the daily and four-chart to trade so far around 80.94 recording a high of 81.09 and a low of 80.50.
Accordingly, the euro-dollar pair is plunging on the four-hour chart and is forecasted to slip further to the downside according to the four-hour stochastic oscillator as the dollar pulled down the Union currency to have it trade so far around $1.3157 recording a high of $1.3238 and a low of $1.3129 with a resistance seen at 1.3325 and a support shown around 1.3070.
As for the pound-dollar pair, it is plunging as well as the euro-dollar pair throughout the currencies market due to the empowerment of the U.S currency, having actually the royal pound trading around $1.5880 recording a high of $1.5963 and a low of $1.5860 with a resistance at 1.6010 and a support at 1.5705, knowing that the pair shows a tendency to start on inclining faintly according to the one-hour momentum indicators.
Now, turning to the dollar-yen pair, it is climbing so far to the upside on the daily and four-hour scales since that the cheerful U.S services data permitted the dollar to rise from a eight-month low versus the yen, having in fact the low-yielding Japanese currency now trading around 86.25 recording a high of 86.38 and a low of 85.30 with a resistance level witnessed at 87.05 and a support level seen at 85.00.