So far ahead of the FOMC meeting, the green Benjamin weakened and is loosing momentum throughout the currencies market as the world's largest economy expanded at a slower pace within the third quarter than it was primarily estimated, having in fact the third quarter real gross domestic product growth rate of 3.5 percent revised down to an annualized rate of 2.9 percent.
In fact, the dollar index, which tracks the strength of the green Benjamin in front of a basket of currencies, dropped within the four-hour scale on mounting doubts concerning the U.S economical recovery to trade at 75.10 recording a high of 75.44 and a low of 74.99.
Consequently, the euro-dollar pair is inclining on the four-hour and one-hour charts as the Union currency is advancing against the green Benjamin to trade so far at 1.4964 recording a high of 1.4988 and a low of 1.4888 with a resistance at 1.4979 and a support at 1.4946, knowing that the pair may rise further to the upside according to the four-hour and one-hour scales stochastic oscillator.
Still, the pound-dollar pair is narrow trading on the four-hour chart due to technical movements but forecasted to incline according to the four-hour momentum indicators, having the royal pound trading at 1.6577 recording a high of 1.6617 and a low of 1.6496 with a resistance at 1.6612 and a support at 1.6554.
As for the dollar-yen pair, it is consolidating presently on technical movements so far between a resistance level witnessed at 89.07 and a support level detected at 88.04, having the low-yielding Japanese currency trading up till now at 88.45 recording a high of 89.07 and a low of 88.33.