The green currency retreated on Wednesday for the fourth day on signs of economic recovery, which dampened demand on the dollar and yen as refuges. The dollar index, a gauge of the dollar's strength against a basket of major currencies, fell 5% this year and 1.4% over the past week. The index is now at 77.29, compared with the opening at 77.33.
The euro-dollar pair is showing an incline on the daily and 4-hour charts. Today, Germany released its CPI for August coming inline with expectations; the euro was not impacted by the news. Meanwhile, the euro is traded at 1.4501 recording a high of 1.4518 and low of 1.4464, where the pair is supported by 1.4490 and faces the coming resistance of 1.4520.
The sterling-dollar pair is also showing an upside bias on the daily and 4-hour charts. The United Kingdom released its trade balance for July today; showing a narrowed deficit, with exports and imports rising to their highest since 2008. So far, the pound is traded at 1.6507 setting a high of 1.6563 and a low of 1.6453; while the coming support for the pair is seen at 1.6518 then 1.6480, and the resistance is spotted at 1.6520.
Finally, the dollar-yen pair is inclining on the daily charts; however, it is showing a slight decline on the 4-hour charts. Now, the pair is trading around 92.45, after hitting a high of 92.59 and a low of 92.22; while the pair is currently facing the coming support level at 92.20 then 92.00, while the resistance is spotted at 92.60.