The Japanese yen and U.S. dollar strengthened against majors after Asian stocks pared two days of advance, followed by European stocks, which lowered demand on higher-yielding currencies. The U.S. dollar gained against a basket of major currencies as seen by the dollar index on the daily charts. The index climbed to 80.71 rebounding from a low of 80.40 recorded earlier today in the absence of important fundamentals from major economies.
With regard to the euro-dollar pair, it is showing decline on the daily and 4-hour charts ahead of the Greek Prime Minister meeting with President Obama later on today which is the main focus due to lack of fundamentals from the euro zone. Now, the pair is traded at 1.3568 after reaching a high of 1.3635 and a low of 1.3561, where the coming support is seen at 1.3605 and next resistance is at 1.3655.
As for the sterling-dollar pair, it is showing decline on the daily and 4-hour charts after U.K. house price gauge showed a slowdown in demand on property in February and trade deficit widened the most in 17 months in January. However, the government prefers weaker pound to boost exports after pausing the APF program in February and March at 200 billion pounds. The pair fell after breaching 1.50 level heading to 1.4948 where it is currently traded, after recording a high of 1.5066 and a low of 1.4935, while it is moving between support at 1.4900 and resistance at 1.5075.
Relative to the dollar-yen pair, it is facing downside pressure on the daily charts for the second day as the yen strengthened on speculations investors are repatriating earnings back home. The pair is currently traded at 89.74, hitting a high of 90.32, and a low of 89.61, whereas support is seen at 89.65 then 89.35 while resistance is at 90.15 then 90.60.