(MENAFN– ecpulse)
So far major pairs are narrow trading while that the demand for haven assets and currencies is corroded as it is speculated that the U.S. lawmakers may be able to reach an agreement on increasing the nation’s debt ceiling and avoid a default.
In fact according to the U.S president they are "enough reasonable Republicans and Democrats in the House who are willing to vote yes on a budget that the Senate has already passed" and therefore the vote could take place today.\
Accordingly the euro is presently narrow trading on the four and one-hour charts as a result of the current technical movements sending in fact the EUR/USD pair to trade up around $1.3573 while recording the highest level of $1.3573 and lowest level of $1.3572, knowing that the pair may incline but slightly as mixed signs are seen throughout the four-hour and one-hour momentum indicators. The trading range for today is among the key support at 1.3445 and key resistance at 1.3655.
As for the British Pound, it is also consolidating on these correctional movements driving the GBP/USD pair to trade around $1.6081 while recording the highest level of $1.6081 and lowest of $1.6081 and is most probably going to remain at consolidated levels as mixed signs; buying and selling, are also witnessed at several time scale within the stochastic oscialltor.The trading range for today is among the key support at 1.5910 and key resistance at 1.6165.
Finally, the USD/JPY pair remains on plunging on bets the U.S. lawmakers may be able to reach an agreement to trade around ¥796.85 while recording the highest level of ¥96.87 and lowest levels of ¥96.84. The trading range for today is among key support at 95.80 and key resistance at 98.20.
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