Dollar remains weak after Dudley comments

So far throughout the US session the green Benjamin remains weak as its appeal was corroded today after that New York Federal Reserve President William Dudley said the U.S. economic recovery is still not solid enough for a scale-back on the central bank’s stimulus program.

  Not forgetting that last week’s FOMC meeting showed that the Federal Reserve revealed unexpectedly that it decided to refrain from cutting monetary stimulus.  

In fact the Federal Open Market Committee (FOMC) agreed to keep its benchmark interest rate unchanged at a record low between 0.0% and 0.25%, and refrained from the highly expected tapering for its quantitative easing program.

As a result the euro is slightly rising to the upside on the four and daily charts sending in fact the EUR/USD pair to trade up around $1.3229 while recording the highest level of $1.35448 and lowest level of $1.34992, yet the pair may start to plunge according to the four-hour momentum indicators.The trading range for this week is among the key support at 1.3315 and key resistance at 1.3970

As for the British Pound, it is climbing up to the upside strongly leading the GBP/USD pair to trade around $1.6068 while recording the highest level of $1.6073 and lowest of $1.6013 and is most probably going to start to fall as witnessed at several time scale within the stochastic oscialltor.The trading range for this week is among the key support at 1.5750 and key resistance at 1.6340.

Finally, the USD/JPY pair is actually consolidating at different time charts to trade around ¥98.75 while recording the highest level of ¥99.30 and lowest levels of ¥98.73.A breakout above 99.95 might support the upside move to test 78.6% and 88.6% correction at 100.30 and 100.90 respectively.The trading range for this week is among key support at 96.25 and key resistance at 101.55.