Today, major currencies stepped up at the pace slow, after falling against the dollar in corrective move to modify momentum indicators, which indicates that the currencies are trading in an overbought area. The Japanese currency advanced against versus most major counterparts as the nation's banking regulator told lenders to gauge the impact of property prices fell.
Yesterday, the euro fell against the dollar, and it declined to 1.3150. Today the euro/dollar pair is recording a low of 1.3143 and a high of 1.3174, having the pair trading around 1.3148. Also, the pair is trading in an overbought area according to momentum indicators on the daily charts, while the momentum indicators on the four hour indicates the pair is trading in an oversold area. In case the pair breaks 1.3130 levels, and then it will be on the way towards 1.3055.
Turing to, the British pound slumped yesterday against the dollar during the Asian session, and it declined to 1.5855. Today, the pound/dollar pair recorded a high of 1.5909 and a low of 1.5871, trading around 1.5885. On the other side, momentum indicators over four-hour and daily basis indicate that the pair in an overbought area signaling possible correctional attempts.
The Yen/dollar pair fell to reach 86.08, after recording to a high of 86.44. Also, the pair is trading in an oversold area according to momentum indicators over four-hour and daily charts, the resistance level became at 87.00 and a support at 84.80.