The dollar has witnessed heavy decline in the markets which reached to the lowest level in two weeks against the shared currency, also it fell against the yen, while the market's expectations indicating that the global economic recovery to rebound, pushing investors to buy high-yielding currencies. On the other hand, investors are going to close their financial positions with the end of the year, supporting the dollar to decline.
The euro rose against the dollar during the Asian session, trading around 1.3252, recording the highest at 1.3258 and the lowest at 1.3218. The euro faces a resistance at 1.3360. The daily momentum indicators give buying signs, while four hours momentum indicators show the pair in an overbought area.
The pound inclined against the dollar during the Asian session, while the pair trades around 1.5526, recording the highest at 1.5527 and the lowest at 1.5497. The pound faces a resistance at 1.5570 then at 1.6550. The daily momentum indicators give buying signs, supporting the pair's upside movement.
The dollar/yen pair fell sharply during today's session, and now the pair trades around 81.37 levels, recording the lowest at 81.27 and the highest at 81.62. On the other hand, the pair faces a support at 81.20, while the daily and four hours momentum indicators show the pair in an oversold area, which may impede the pair's downside movement.