The scenario currently in the markets is the total opposite of yesterday as today the dollar is rising versus major currencies as a result of the Chairman of the Federal Reserve Bank, Ben Bernanke, stating that the bank is getting ready to make changes in the monetary policy when the nation has improved sufficiently this supported the dollar in the markets increasing its appeal against majors.
The euro is depreciating against the federal currency but not because of the euro's weakness but as a result of the dollar's strength in the markets while the momentum indicators on the one-hour chart are providing us with a downwards trend. The EUR/USD is being traded at 1.4713 recording a high of 1.4794 and a low of 1.4703 while we see there is a resistance at 1.4755 and a support at 1.4696.
Turning to the pound we see that it is losing ground versus the dollar on anticipations that the outlook for the
The yen is like major currencies tumbling against the dollar's climb while the pair is being traded at 89.23 between the support of 89.11 and resistance of 89.70 while recording a high of 89.44 and a low of 88.34. Opposite of the other pairs, here the momentum indicators on the one-hour chart are indicating an upside trend.