As the US currency managed to post gains across the board in the forex trading market, the weakening of the euro continues for two straight days. This is despite the German CPI staying at the same level as it is at 0.1%. The EUR/USD pair traded at a high of 1.3877 and a low of 1.3733. Should it breach the 1.3740 support level and move beyond it, there’s a good chance that the pair will move back to the 1.37 levels and even hold above this zone.

The British pound’s previous gains seem to fade away as the British currency came out weaker versus the dollar, as a result of the negative opening of Wall Street and the US dollar gains across the board. The GBP/USD pair traded between a low of 1.5728 and a high of 1.5863. The GBP/USD pair might fluctuate to the 1.58 levels and beyond if it manages to hold above the support level of 1.57.

The Japanese yen also weakened versus the dollar for two straight days, trading below the 82 level. The USD/JPY reached a high of 81.97 and a low of 81.30. It is expected to be a positive trend for the currency pair should it break the 82 resistance level. The Canadian dollar also declined versus the US dollar for the second day, with the USD/CAD trading at a high of 1.0377 and a low of 1.0225.

Despite better results for home sales, the US dollar plunged against most major currencies in the forex trading market. The weaker dollar can be attributed to the expected resolutions of the G20 summit. With a weaker dollar, the euro continued to strengthen, as Industrial New Orders came out better than expected. Over the past few days, the EUR/USD pair has had a 1.3856 support level and 1.4049 resistance level in the daily range. If the currency pair trades beyond the 1.3900 zone, then it would continue to be on a positive trend. The EUR/USD reached a low of 1.3935 and a high of 1.4079.

The British pound recovered versus the US currency after reaching its biggest weekly loss. The worse than expected Mortgage Approvals didn’t pull down the British currency, as buyers seemed to have an appetite for better yielding assets, overpowering the sellers in the end. Still, it is a negative momentum for the British pound, although the GBP/USD pair almost broke the daily moving average. The trend is still bearish, as the GBP/USD traded at a low of 1.5677 and a high of 1.5772.

Among the currency majors to post gains against the US dollar are the Japanese yen and the Canadian dollar. The Japanese yen touched a 15-year high versus the dollar, as the USD/JPY traded at a low of 80.40 and a high of 81.32. The Canadian dollar also bolstered versus the US currency to touch a weekly high. The USD/CAD traded at a low of 1.0154 and a high of 1.0258.