The RBA’s decision to raise interest rate increased demand on higher-yielding... |
The Japanese currency declined against the greenback and its major counterparts during the Asian session, as the Reserve Bank of Australia unexpectedly rose the interest rate, increasing the demand for higher-yielding currencies.
The euro inclined against the dollar during the Asian session trading over the level 1.3900, recording a high of 1.3936 and a low of 1.3880, and now it faces a resistance at 1.4000 which might weaken the upside movement of the pair. The daily momentum indicators show a possible rise yet the four hours momentum indicators show the pair in an overbought area.
The British pound rose in a narrow range against the dollar during the Asian session, recording a high of 1.6065 and a low of 1.6032, and now it trades around 1.6056 where the pair faces a resistance at 1.6100. The daily and four hours momentum indicators show the pair in an overbought area which may favor a downside movement.
The yen fell against the dollar, recording a high of 80.74 and a low of 80.46, and now it trades around 80.55 where the pair will face a support at 80.40. Daily and four hours momentum indicators show the pair in an oversold area which favors an upside movement.
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