The dollar is mixed in the markets as we see it decline against the euro and trade higher against the royal currency. The Dollar Index, which measures strength of the dollar versus six major currencies, is currently declining trading at 81.78 while recording a high of 82.05 and a low of 81.59.
The euro rebounded from a 10-month low against the dollar after the ECB President Jean-Claude Trichet said that emergency collateral rules will be extended past 2010. Also the euro was supported ahead of the EU summit meeting take place later on in the day as investors are looking forward for EU leaders providing Greece with a financial package. The EUR/USD pair is currently trading at 1.3322 between the support of 1.3280 and the resistance of 1.3400 while recording a high of 1.3370 and a low of 1.3283.
The UK released its retail sales which surpassed expectations and although this news was bright, we see the pound currently declining against the dollar as the pair is trading at 1.4876 between the support of 1.4840 and the resistance of 1.4975. The pair recorded a high of 1.5004 and a low of 1.4853 while the momentum indicators on the one-hour charts are providing us with a downside trend.
The dollar is extending its incline against the yen as the pair is currently trading at 92.32 above the support of 91.90 and below the resistance of 92.75 while recording a high of 92.60 and a low of 91.75. The momentum indicators on the one-hour charts are showing us that the pair is being traded in an overbought area.