The federal currency continued its downside fall at its lowest level in 2009 versus a basket of major currencies on optimistic outlook for large economies which buttressed demand on higher-yielding and riskier assets. The dollar retreated further today ahead of the release of U.S. housing data that is expected to show advance. Meanwhile, the dollar index is at its lowest level in a year at 76.06 from the opening at 76.27.

As regards to the euro-dollar pair, it is moving deeply in an overbought area as seen on the daily charts, according to the Stochastic Oscillator momentum indicator. Also, on the 4-hour and 1-hour charts the pair is inclining. Today, euro zone released its trade balance for July touching its best record in 7 years. The upbeat news did not impact the euro, but the European single currency remains traded at it highest in a year versus the dollar. Meanwhile, the euro is traded at 1.4747 recording a high of 1.4767 and low of 1.4702, where the pair is supported by 1.4725 and faces the coming resistance of 1.4748.

As for the sterling-dollar pair, the pair is inclining on the daily and 4-hour charts. Today, the U.K. released its retail sales for August showing a slump, but the pound, on the contrary, inclined after the news breaching 1.6530 resistance level. So far, the pound is traded at 1.6536 setting a high of 1.6566 and a low of 1.6466; while the coming support for the pair is seen at 1.6518 and the resistance is spotted at 1.6547.

With regard to the dollar-yen pair, it declined for the second day on the daily charts after rising for two days to continue its downside trend that started on August 10. The pair also is declining on the 4-hour charts and 1-hour charts resembling the weakness of the dollar. Today, the greenback is close to its lowest in seven-month versus the yen. Now, the pair is trading around 90.62 after hitting a high of 91.23 and a low of 90.49; while the pair is currently facing the coming support level at 90.55, while the resistance is spotted at 90.75.