The dollar is still weak so far in the markets as the FOMC minutes meeting showed that the U.S economy slipped further into a deepened recession along with a worsened economic outlook for this year and a prolonged contraction, which consequently led to the euro and the yen to advance against the green currency. Moreover, more pessimistic economic data is released are being released so far in the U.S.
Therefore, the euro-dollar pair inclined as the weakened dollar permitted to the Union currency to advance against it with a euro traded at 1.3610 recording a high of 1.3623 and a low of 1.3430 along with a resistance level at 1.3619 and a support level at 1.3581 which are levels in which the pair is trading as mixed signs are detected through the momentum indicators at different time scales.
Now, the pound-dollar pair remains on slipping, as the United States performance in this worsened recessional period remains better than the royal performance, having therefore a pound traded at 1.4899 recording a high of 1.4969 and a low of 1.4804. A resistance level could be witnessed at 1.4910 and a support at 1.4866.
The dollar-yen pair is slipping to the downside, as the worsened outlook of the U.S economy that made the dollar weaker allowed to the yen to advance against the green currency, with a yen traded so far at 93.30 recording a high of 94.13 and a low of 92.92. A resistance could be detected at 93.40 and a strong support at 93.13.