Unwinding of carry trades remains present…
![]( "Unwinding of carry trades remains present…")
Traders are so far targeting the low-yielding currencies as their appeal as safe assets is boosted up after that worries and pessimism are spread throughout the currencies market after that the U.S jobs report came out gloomy overall, having in fact the Unemployment Rate coming in noticeably high, as it rose to 9.5% from 9.4%, while the Change in Non-farm Payrolls for June declined to -467 thousand from -322 thousand, illustrating that the world's largest economy is still suffering despite the gradual improvment seen recently in economic activity.
Consequently, the euro-dollar pair is plummeting severely as the appetite for risk is fully corroded, knowing that the pair is showing a strong tendency to fall further to he downside on the daily scale momentum indicators, having the Union currency trading at 1.4011 recording a high of 1.4153 and a low of 1.3987 with a resistance at 1.4092 and a support at 1.3940.
As for the pound-dollar pair, it is plummeting on the daily scale but slightly inclining in the one-hour and four-hour charts, having in mind that the pair may incline according to the stochastic oscillator on the one-hour and four-hour scales, seeing the royal pound trading so far at 1.6400 recording a high of 1.6498 and a low of 1.6322 along with a resistance at 1.6492 and a support at 1.6308.
Now, turning to the dollar-yen pair, it is plummeting to the downside with a low-yielding Japanese currency traded up till now around 96.02 recording a high of 96.87 and a low of 95.79, having a resistance level witnessed at 96.17 and a support level detected at 95.71.