The green currency slipped on Monday close to its lowest level in 14 months against a basket of major currencies, as indicated by the dollar index which plunged to 75.50 from the opening at 75.70. Today, trading is tranquil today due to lack of fundamentals from major economies. Investors are optimistic in regards toearnings released this week, which is increasing investor's risk appetite.
The euro-dollar pair traded with an upside bias seen over the daily charts. However, on the 4-hours and 1-hour charts, the pair is showing a decline. The pair is giving a bearish sign, as shown by the Stochastic Oscillator, which is indicating that the pair may reverse from an overbought area after the euro has approached the highest in 14-month against the dollar today. Meanwhile, the euro is traded at 1.4912 recording a high of 1.4953 and low of 1.4827, where the pair is supported by 1.4904 and faces the coming resistance of 1.4930.
The sterling-dollar pair showed an incline on the daily chart, but on the 4-hour and 1-hour charts, the pair declined. The pound continued its rise for the fifth day on previous speculations the BoE will suspend stimulus on signs of recovery. So far, the pound is trading at 1.6311, setting a high of 1.6370 and a low of 1.6239; while the coming support for the pair is seen at 1.6297 and the resistance is spotted at 1.6345.
The dollar-yen pairshowed a downside tendency over daily basis, but on the 4-hour and 1-hour charts, the pair is inclining. The pair rebounded from 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 90.78, after hitting a high of 91.13 and a low of 90.36; while the pair is currently facing the coming support level at 90.55 then 90.27, while the resistance is spotted at 91.00.