IBT: The US dollar rises as the Fed says economy continues to recovery
The US dollar has gained against its major counterparts during the second half of today's Asian session, after the U.S. Fed reported that the US economy is continuing to recovery along with the data that showed an improvement in the US's industrial production.
The euro against the dollar rose slightly during today's Asian session, where now the pair trades around the 1.3352 level, recording the highest at 1.33361 and the lowest at 1.3335. The euro faces a resistance at 1.3365, which may weaken the pair's upside movement. The daily and four hours momentum indicators show the pair in an oversold area, supporting the pair to rise slightly during today's session.
Turing to the pound/dollar pair rose during the Asian session, where now the pair trades around the 1.5763 level, recording the highest at 1.5767 and the lowest at 1.55739. The pair now faces a resistance at 1.5800, while the momentum indicators show the pair in an overbought area.
The yen/dollar pair declined during today's Asian session, where now the pair trades around the 83.79 level, recording a high of 83.94 and a low of 83.75. On the other hand, the daily and four hours momentum indicators show the pair in an overbought area, supporting the pair to decline.
