The green currency rebounds slightly ahead of the opening of the U.S. market, where important data are expected to be released. The dollar did a slight correction, as it became oversold against a basket of major currencies; indicated by the dollar index, which surged to 77.14 from the opening at 76.99. The U.S. dollar dipped for four consecutive days and slipped earlier today, approaching its lowest level this year.
The euro-dollar pair is showing a decline on the daily and 4-hour charts. Today, euro zone lacks important fundamentals, except for the GDP in Italy's final reading, which matched expectations and did not have an impact on the euro. Also, the ECB bulletin released earlier today, did not add new details than those mentioned by Trichet last week. Meanwhile, the euro is traded at 1.4534 recording a high of 1.4586 and low of 1.4527, where the pair is supported by 1.4520 and faces the coming resistance of 1.4563.
The sterling-dollar pair is also showing an upside bias on the daily and 4-hour charts. Later on today, the BoE will announce the interest rate and asset purchasing program, with expectations of everything remaining unchanged from last month. So far, the pound is traded at 1.6499, setting a high of 1.6564 and a low of 1.6494; while the coming support for the pair is seen at 1.6490 then 1.6480 and the resistance is spotted at 1.6545.
Finally, the dollar-yen pair is inclining on the daily and 4-hour charts. Now, the pair is trading around 92.16, after hitting a high of 92.24 and a low of 91.87; while the pair is currently facing the coming support level at 92.00, while the resistance is spotted at 92.30.