FX:Dollar slips against major currencies in a corrective movement
The dollar fell against the euro and other major currencies after the surge witnessed yesterday, as the dollar rises significantly as a result of the U.S. Congress approval to raise the debt ceiling.
The euro increased against the U.S. dollar during today's Asian session. The EU currency is trading as of this writing at 1.4241 after recording the highest of 1.4261 and the lowest of 1.4142. On the short term the currency faces a resistance at 1.4270 while the momentum indicators show the pair is in an overbought area.
The pound advanced against the U.S. dollar during today's Asian session touching the highest of 1.6316, then it weakened further recording the lowest of 1.6249, and as of this writing it is trading at 1.6301. On the short term the currency faces a resistance at 1.6330 which could support the downside movement for the pair, with the momentum indicators show the pair is in an overbought area.
The dollar/yen pair retreated today where it reached to its lowest at 76.96 level, the pair now is trading at 77.16 recording the highest of 77.36. Momentum indicators show the pair in an oversold area, yet the pair ignores those signs.
