Majors decline against the dollar
![]( "Majors decline against the dollar")
The dollar rallied against majors for the second consecutive day, as the risk appetite dropped, making investors move to selling high yielding currencies. The USDIX inclined to 80.95, reflecting the incline in the dollar's value.
The euro dollar pair declined today, recording a high of 1.4003 and a low of 1.3929. This came after the Unemployment rate in the Euro Zone reaching 9.5% in May, from a prior 9.3%; while the unemployment rate in the U.S inclined to 9.5% from a previous 9.4%. The pair is having support at 1.3965 and if it moves below the support it will target the 1.3900 level, while having resistance at 1.4000. Fundamentals about retail sales, in the Euro Zone, will be released today and may affect the pair's trend. On the four hours charts, the pair is trading in an oversold area, according to the RSI indicator.
Regarding the pound dollar pair, it declined reaching a high of 1.6394 and a low of 1.6328. The pair is having support at 1.6350, and if it manage to break the support it will have a next support at 1.6315, it also is having resistance at 1.6400. According to the stochastic oscillator on the four hour charts, the pair is trading in an oversold area.
As for the dollar yen pair, it is consolidating between the 96.00 and 95.60 levels. The pair is having a support at 95.75, along with a resistance at 96.00. There is an absence of effective fundamentals from both the US and Japan; therefore, we expect movements today to be technical. However, momentum indicators are supporting the downtrend.