The dollar is trading near of a four-week low against the euro, before date forecast to show the U.S. U.S. consumer confidence improved, which increased the risk trading of investors, and pushed investors to go away from the safe heaven currencies. On the other hand, the Japanese currency Yen reaches five-week Low, while the dollar/yen is trading around 85.70.
The euro inclined against the yen and the dollar during the Asian session, which is trading near of the resistance 1.3130, recording a high of 1.3108 and a low of 1.3060, and now the pair trades around 1.3104. The daily and four hours momentum indicators show the pair is within an overbought area, which might push the pair towards the 1.3104 level again.
The pound rose against the dollar, which the pair trading above the resistance 1.5585. The pound recorded a high of 1.5645 and a low of 1.5594. The pair now trades around 1.5637. The daily momentum indicators support the pair’s upside movement, while the four hour momentum indicators show the pair is in an overbought area.
The level 85.70 is the maximum level that Japan's government pushed its currency against the dollar after intervention the currency markets this week. The dollar/yen pair declined, the pair recorded today a low of 85.58 and a high of 85.88 and now it trades around 85.73. The daily and four hours momentum indicators show the pair is in an overbought area, which has a negative effect on the upside movement.