The common currency is continuing to incline against the greenback, reaching to the highest level in three weeks, after the European Central Bank said the Bank may increase interest rates, to fight surging inflation rates. On the other hand, the Japanese yen is also continuing to rise versus its major counterpart the U.S. dollar and the other major currencies, as deepening violence in Libya and the Middle East.
The euro rose today against the dollar during the first half of today’s session, and now the pair trades around 1.3825 after recording the highest at 1.3837 and the lowest at 1.3805. The pair faces a support at 1.3760. The daily and four hours momentum indicators show the pair in overbought areas which may favor the pair’s decline.
The pound rose today against the dollar during Asian session, but it couldn’t to compensate its yesterday’s losses, and now the pair trades around 1.6144 after recording the highest at 1.6151 and the lowest at 1.6119. The pair faces a support at 1.6100. The daily and four hours momentum indicators show the pair in an overbought area, pushing the pair to decline.
The dollar against the yen decreased sharply during today’s Asian session, and now the pair trades around the 82.87 level, recording a high of 82.04 and a low of 81.85. The pair faces a support at 81.60. The daily and four hours momentum indicators show the pair in an oversold area which may favor the pair’s incline.
Add a Comment
Successfully Reported
Thank you. This comment has been flagged for a moderator.